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

Section 11 in the same or any other previous year, the income shall be determined without any deduction or allowance by way of depreciation or otherwise in respect of such asset. But, in the instant case, both the deductions viz. allowing interest on housing loan u/s 24(b), as also allowing it to be added

SRI. GANGA POORNA PRASAD,MYSURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), MYSURU

In the result, the appeal of the assessee is treated as allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year : 2009-10 Sri Ganga Poorna Prasad, Vs. The Assistant Commissioner Of #718, Ii Main, 1St Cross, 1St Block, Income Tax, Ramakrishnagar, Circle-2(1), Mysuru – 570 026. Mysuru. Pan : Aiqpp 5131 K Assessee By : Shri. V. Srinivasan, Advocate Revenue By : Shri. Sankar Ganesh, Jcit(Dr)(Itat), Bengaluru

house property in respect of 2 properties out of which one is the property at Vishnuvardhan Road, Mysuru. If the property at Vishnuvardhan Road, Mysuru, is regarded as the property belonging to HUF, then the assessee would not be hit by the condition laid down in the proviso to section 54F(1) of the Act. The AO thereafter proceeded

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1(2)(2), BANGALORE vs. M/S. NITESH INFRASTRUCTURE & CONSTRUCTIONS, BANGALORE

In the result, the appeal by the revenue is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2012-13

58,000 2 Disallowance of Land Rent 67,77,347 3 Interest Paid On Term Loan 4 Disallowance of Depreciation on Interiors 22,24,430 5 Parking Fees 40,96,500 6 Disallowance of Repairs and Maintenance 25,05,516 5,53,430 7 Disallowance of Inauguration Expenses 8 Profession & Consultancy Charges 15,79,395 Page

V.ANANTHA KUMAR ,BANGALORE vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-2(2), BANGALORE

In the result, the appeal in ITA No

Bench: Shri N.V. Vasudevan & Shri Jason P Boaz

section 14A of the Act. The assessee explained before the AO that the investments which are likely to earn tax free income were made by the assessee out of his own funds and therefore there was no interest expenditure which can be attributed to earning of exempt income. The assessee took a stand that the assessee had sufficient capital

V.ANANTHA KUMAR ,BANGALORE vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-2(2), BANGALORE

In the result, the appeal in ITA No

Bench: Shri N.V. Vasudevan & Shri Jason P Boaz

section 14A of the Act. The assessee explained before the AO that the investments which are likely to earn tax free income were made by the assessee out of his own funds and therefore there was no interest expenditure which can be attributed to earning of exempt income. The assessee took a stand that the assessee had sufficient capital

M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE ASSISTAT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

M/S MFAR DEVELOPERS PVT LTD ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadale1. Ita Nos.1649/Bang/2017 (Assessment Year: 2012-13) 2. Ita No.730/Bang/2018 (Assessment Year: 2013-14) & 3. Ita No.731/Bang/2018 (Assessment Year; 2014-15) M/S.Mfar Developers Pvt. Ltd. No.3, Lavelle Road, Bengaluru-560 001. … Appellant Pan:Aafcm 6271 M Vs. 1-2. Assistant Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. 3. Deputy Commissioner Of Income-Tax, Circle 4(1)(2), Bengaluru. … Respondent Appellant By : Shri K.K.Chythanya, Advocate. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr) Date Of Hearing: 22/03/2019 Date Of Pronouncement: 24/04/2019 O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed Appeals Against Different Orders Of The Cit(A) For Assessment Years 2012-13, 2013-14 & 2014- 15. Ita Nos.1649/Bang/2017 & 730 & 731/Bang/2018 Page 2 Of 16 2. As Far As Ground No.2 In Respect Of Disallowance Of Proportionate Interest U/S 24(B) Of The Income-Tax Act,1961 ['The Act' For Short], The Assessee Has Raised Similar Grounds Of Appeal For Assessment Years 2012-13, 2013-13 & 2014-15. Similarly, For The Assessment Year 2012-13, The Assessee Has Raised An Alternative Plea To Allow Interest U/S 36(1)(Iii) Which Is Also Ground Of Appeal In Assessment Years 2013-14 & 2014-15. For The Assessment Year 2012-13, The Assessee Raised Ground For Allowance Of Deduction Towards Processing Fees & Pre-Payment Charges U/S 24(B) Of The Act. For The Assessment Year 2013-14, The Assessee Has Raised A Ground For Disallowance Of Rs.25,77,78/- Under The Provisions Of Section 14A Of The Act.

House Property', erred in disallowing the interest on capital borrowed and used for acquiring the said building complex. 2.7. The Learned Commissioner (Appeals) and Learned Assessing Officer having allowed interest in respect of Rs. 45 Crores which was utilised towards re-payment of old loan, have erred in disallowing interest in respect of balance Rs. 19.50 Crores which was utilised

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

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

house property”. Whereas, the rental income from equipment was considered as “income from other sources” by the assessee. The A.O., however, reclassified the rental income from property as “income from other sources” and disallowed standard deduction claimed u/s 24(a) of the I.T.Act for the following two reasons, namely, (i) the assessee is not the owner of the property

M/S VECTRA ADVANCED ENGINEERING PRIVATE LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

house property”. Whereas, the rental income from equipment was considered as “income from other sources” by the assessee. The A.O., however, reclassified the rental income from property as “income from other sources” and disallowed standard deduction claimed u/s 24(a) of the I.T.Act for the following two reasons, namely, (i) the assessee is not the owner of the property

M/S VECTRA ADVANCED ENGINEERING PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

house property”. Whereas, the rental income from equipment was considered as “income from other sources” by the assessee. The A.O., however, reclassified the rental income from property as “income from other sources” and disallowed standard deduction claimed u/s 24(a) of the I.T.Act for the following two reasons, namely, (i) the assessee is not the owner of the property

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

house property”. Whereas, the rental income from equipment was considered as “income from other sources” by the assessee. The A.O., however, reclassified the rental income from property as “income from other sources” and disallowed standard deduction claimed u/s 24(a) of the I.T.Act for the following two reasons, namely, (i) the assessee is not the owner of the property

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

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

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

house property”. Whereas, the rental income from equipment was considered as “income from other sources” by the assessee. The A.O., however, reclassified the rental income from property as “income from other sources” and disallowed standard deduction claimed u/s 24(a) of the I.T.Act for the following two reasons, namely, (i) the assessee is not the owner of the property

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

M/S CONSULATE CONSTRUCTIONS,BANGALORE vs. DCIT, BANGALORE

In the result, the assessee's appeals for Assessment Years 2001-02 and 2003-04 are partly allowed for statistical purposes

Section 144 r.w.s. 147 of the Act vide order dt.29.12.2008 for Assessment Years 2001-02 and vide order dt.30.12.2008 for Assessment Year 2003-04; making certain additions / disallowances to the returned incomes and also in assessing the income from lease rental receipts as income from house property’ as against ‘business income’ by relying on the decision

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

58,200/- was inflated and brought it to tax by disallowing the same. 2.4 The AO has observed that the amount of Rs.7,55,85,800/- representing the assessee's claim of expenditure relating to land filling, which had been considered as inflated expenditure and, therefore, disallowed in the assessment order for the assessment year 2006-07, is added