NALAPAD PROPERTIES ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-2(3) , BANGALORE

47)(v) r.w.s 53A of the\nTransfer of Property Act, and the ratio laid down in the\nabove judgements became the settled position of law till the\n assessment year 2016-17 and thereafter an amendment\nwas made by inserting a new provision of section 45(5A) of\nthe Act applicable with effect from assessment year 2017-18\nand onwards

GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

houses at Mavalli were registered in the name of the assessee for Rs. 81,90,000/-. The Ld. CIT(A) relied upon the judgment and order of Hon’ble Supreme Court in the case of Balbir Singh Maini 398 ITR 531(SC). The ld. CIT(A) referred to the provisions of Section 2(47

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 34 against the assessee as the karta of a HUF. Further, the High Court had not expressed its opinion on the question based upon section 25 of the 1992 Act. In the result, the order of the High Court was set aside and the appeal was remanded to the High Court for disposal in accordance with

YASH VARDHAN ARYA,BANGALORE vs. THE INCOME TAX OFFICER, (INTERNATIONAL TAXATION) WARD-1(1), BANGALORE

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri George George K

47,600/- is now added back to the returned income.” 4. Aggrieved, the assessee filed an appeal before the first appellate authority. The CIT(A) accepted the contention of the assessee that the possession of the property was given only on 01.06.2016, and hence, no lease rental could be brought to tax for the month of February 2016 and March

MR.RAHIL MAHESH KUMAR NIZAMUDDIN ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

47,457/- 8 The Learned CIT(A) erred in confirming the adoption of Rs.40,000/- by the Assessing Officer as the FMV of the Poojanahalli Lands as on 1.4.1981 and in" rejecting the Appellant's claim of Rs.25/-per Sq. Ft. as reported by the Registered Valuer without resorting to the Valuation Machinery provided under section

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing &. Land Development Trust Ltd. (1986) 58 CTR (SC) 179 : (1986) 161 ITR 524 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing &. Land Development Trust Ltd. (1986) 58 CTR (SC) 179 : (1986) 161 ITR 524 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Housing &. Land Development Trust Ltd. (1986) 58 CTR (SC) 179 : (1986) 161 ITR 524 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India

SRI. K. SATISH KUMAR,BENGALURU vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE-9, BANGALORE

In the result, the assessee’s appeal is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

47 construction before the insertion of section 142A of the Act. The Hon'ble Supreme Court has observed at page (416) as follows: "The Valuation Officer referred to has, according to he Explanation to the section, the same meaning as in clause (r) of section 2 of the Wealth-tax Act, 1957.Under sub-section (2) of section 269L, the Valuation

SMT.VANI SHREE ,BANGALORE vs. INCOME TAX OFFICER WARD-6(2)(4), BANGALORE

In the result, the appeal filed by the assessee stands dismissed

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 Smt. Vani Shree, No. 49, 3Rd Cross, The Income-Tax Marappa Thota, Officer, J.C. Nagar, Ward 6 (2)(4), Bangalore – 560 006. Bangalore. Vs. Pan: Gayps9756K Appellant Respondent : Shri S.V. Ravi Shankar, Assessee By Advocate : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 28-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 05.12.2018 Passed By The Ld.Cit(A)-6, Bangalore For A.Y. 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru, Passed Under Section 250 Of The Act In So Far As It Is Against The Appellant Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case. 2. The Appellant Denies Herself To Be Liable To Be Assessed To Total Income Of Rs.2,16,39,499/- On The Facts & Circumstances Of The Case.

section 2(47)(v)of the Act r.w.s. 53A of the Transfer of Property Act took place on that date and hence the capital gains arising from the JDA was to be assessed in A.Y. 201516. The AO accepted this submission of the assessee as declared in the return of income. 2.4 In the return, the assessee had shown full

SHARADA MOHAN SHETTY,KARWAR vs. ITO, WARD-2, KARWAR

In the result, appeal of the assessee is partly allowed

Bench: Or During The Courses Of Appeal Hearing.” 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income On 30/09/2015 For The Assessment Year 2015-16 Declaring Page 2 Of 16

property. In the special facts and circumstances of the present case, therefore, it is necessary to hold that the amount utilised by the assessee to purchase the land was in fact utilised for acquiring/constructing a residential house. Without purchasing land the house cannot be constructed. The first step Page 9 of 16 should be the purchase of land. That

M/S SCANIA COMMERCIAL VEHICLES INDIA PVT LTFD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(1)(1), BANGALORE

The Appeal of the Assessee is allowed

Bench: Shri Prashant Maharishi, Vice – & Shri Keshav Dubey

house property because income has been correctly offered by the Assessee under the head business income. Accordingly, ground no. 19 of the Assessee is allowed. 18. The Ground no. 20 of the Appeal is with respect to the correct carry forward of losses. The Assessee has computed the carry forward of the losses

SHRI KRISHNA PRASAD MIKKLINENI ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(2), BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2009-10

housing workmen and security personnel and storage of material,. the developer shall remove its men and material and vacate the schedule property on the completion of the project or on termination or rescission of this agreement for any reason whatsoever; notwithstanding the use of the schedule property by the developer for the project, the possession of the schedule property shall

PADMANABAN SUKHUMARAN ,BANGALORE vs. ACIT, CIRCLE-5(3)(1), BANGALORE

In the result, the appeal filed by the assessee towards the interest claimed u/s

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K.Assessment Year : 2017-18

section 234A, 234B and 234C of the Act in view of the fact that there is no liability to additional tax as determined by the learned assessing officer. Without prejudice the rate, period and on what quantum the interest has been levied are not in accordance with law and further are not discernable from the order and hence deserves

SMT. S.M.SHOBA,BENGALURU vs. INCOME TAX OFFICER, WARD - 7(2)(1), BANGALORE

In the result, the appeal filed by assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2016-17 Smt. S.M. Shoba, No. 1489, First Floor, The Income Tax 40Th Cross, 4Th T Block, Officer, Jayanagar, Ward 7 (2)(1), Bangalore – 560 041. Bangalore. Vs. Pan: Cxkps1454H Appellant Respondent Assessee By : Shri Ramasubramanian, Ca : Shri Priyadarshi Mishra, Addl. Revenue By Cit (Dr) Date Of Hearing : 09-02-2022 Date Of Pronouncement : 30-03-2022 Order Per Beena Pillaipresent Appeal Has Been Filed By Assessee Against The Order Dated 05.07.2019 Passed By The Ld.Cit(A)-7, Bangalore For Assessment Year 2016-17 On Following Grounds Of Appeal. “1. That The Order Of The Learned Commissioner Of Income- Tax (Appeals) In So Far It Is Prejudicial To The Interests Of The Appellant Is Bad & Erroneous In Law & Against The Facts & Circumstances Of The Case. 2. That The Learned Commissioner Of Income-Tax (Appeals) Erred In Law & On Facts In Denying The Cost Of The Land For Claiming Exemption U/S. 54F Of The Act On The Ground That Such Land Was Purchased Four Years Prior To The Date Of Sale Of Original Asset. 3. That The Learned Commissioner Of Income Tax (Appeals) Erred In Law & On Facts In Making An Enhancing The Assessment By Making A Of Disallowance From Rs.

property purchased one year prior to the transfer, which gave rise to the capital gain or may be in the alternative have expressly made the exemption in case of prior purchase, subject to purchase from any advance that might have been received for the transfer of the residential house which resulted in the capital gain. 23. At the cost

M/S GODHA REALTORS PVT LTD ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE

In the result, both the appeals of the assessee are allowed

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaran

Section 2(47) of the Act, would be incorrect. 19. In this context, we must first refer to the judgment of the Supreme Court in case of Sanjeev Lal (supra) on which heavy reliance was placed by counsel for the assessee. It was a case in which the assessee owned an immovable property, namely, a house