SRI. RAMACHANDRA NAVEEN,BANGALORE vs. DCIT, CENTRAL CIRLCE-1(1), BANGALORE

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

HOUSE 4640000 12027504 UNACCOUNTED EXPENDITURES ON SAM CHAMBERS 1003803 9579040 PARKING CGARGES PAID IN CASH 908330 1222132 1990050 3417000 460600 UNACCOUNTED PROPERTY PURCHASEDIN FAVOUR OF RESHMA 953000 ONMOMEY PAID TO CHETAN GOPAL FOR PURCHASING OF THE PROPERTY 4900000 ONMOMEY PAID TO SMT NIRMLA FOR PURCHASING OF THE PROPERTY 4765000 CASH PAID OUTSIDE BOOKS FOR ELECTRICITY CONNECTION 1100000 UNACCOUNTED CASH FOUND

RAMACHANDRA NAVEEN,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

HOUSE 4640000 12027504 UNACCOUNTED EXPENDITURES ON SAM CHAMBERS 1003803 9579040 PARKING CGARGES PAID IN CASH 908330 1222132 1990050 3417000 460600 UNACCOUNTED PROPERTY PURCHASEDIN FAVOUR OF RESHMA 953000 ONMOMEY PAID TO CHETAN GOPAL FOR PURCHASING OF THE PROPERTY 4900000 ONMOMEY PAID TO SMT NIRMLA FOR PURCHASING OF THE PROPERTY 4765000 CASH PAID OUTSIDE BOOKS FOR ELECTRICITY CONNECTION 1100000 UNACCOUNTED CASH FOUND

RAMACHANDRA NAVEEN,BANGALORE vs. DCIT, CENTRAL CIRLCE-1(1), BENGLAURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

HOUSE 4640000 12027504 UNACCOUNTED EXPENDITURES ON SAM CHAMBERS 1003803 9579040 PARKING CGARGES PAID IN CASH 908330 1222132 1990050 3417000 460600 UNACCOUNTED PROPERTY PURCHASEDIN FAVOUR OF RESHMA 953000 ONMOMEY PAID TO CHETAN GOPAL FOR PURCHASING OF THE PROPERTY 4900000 ONMOMEY PAID TO SMT NIRMLA FOR PURCHASING OF THE PROPERTY 4765000 CASH PAID OUTSIDE BOOKS FOR ELECTRICITY CONNECTION 1100000 UNACCOUNTED CASH FOUND

SRI RAMACHANDRA NAVEEN,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

HOUSE 4640000 12027504 UNACCOUNTED EXPENDITURES ON SAM CHAMBERS 1003803 9579040 PARKING CGARGES PAID IN CASH 908330 1222132 1990050 3417000 460600 UNACCOUNTED PROPERTY PURCHASEDIN FAVOUR OF RESHMA 953000 ONMOMEY PAID TO CHETAN GOPAL FOR PURCHASING OF THE PROPERTY 4900000 ONMOMEY PAID TO SMT NIRMLA FOR PURCHASING OF THE PROPERTY 4765000 CASH PAID OUTSIDE BOOKS FOR ELECTRICITY CONNECTION 1100000 UNACCOUNTED CASH FOUND

CHANDRA SHEKHAR ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME, CENTRAL CIRCLE-1(3), BANGALORE

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Chandra Poojari (Accountant Member), Shri Soundararajan K. (Judicial Member)

house property, income from construction business, income from contract work and income from travel business. The AO also treated the cash credits as unexplained cash credits u/s. 68 of the Act. The AO estimated the income of hotel business by taking the profit at 20%. The AO also relied on the show notice issued by the DRI and made

SLN COFFEE CURING WORKS,KUDLOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

property was an unexplained investment and same was rightly added to income of assessee. 2. Kim Pharma (P.) Ltd. Vs CIT 120131 35 taxmann.com 456 (Pun jab &Haryana)/[2013] 216 Taxman 153 (Punjab&Haryana)(MAG.)/[20131 258 CTR 454 (Punjab & Haryana) where Hon'ble P&H High Court held that where amount surrendered during survey was not reflected in books

SLN COFFEE CURING WORKS,KUDLOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

property was an unexplained investment and same was rightly added to income of assessee. 2. Kim Pharma (P.) Ltd. Vs CIT 120131 35 taxmann.com 456 (Pun jab &Haryana)/[2013] 216 Taxman 153 (Punjab&Haryana)(MAG.)/[20131 258 CTR 454 (Punjab & Haryana) where Hon'ble P&H High Court held that where amount surrendered during survey was not reflected in books

SLN COFFEE CURING WORKS,KUDLOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

property was an unexplained investment and same was rightly added to income of assessee. 2. Kim Pharma (P.) Ltd. Vs CIT 120131 35 taxmann.com 456 (Pun jab &Haryana)/[2013] 216 Taxman 153 (Punjab&Haryana)(MAG.)/[20131 258 CTR 454 (Punjab & Haryana) where Hon'ble P&H High Court held that where amount surrendered during survey was not reflected in books

ARUN DURAISWAMY,MYSORE, KARNATAKA vs. ITO, INTL. TAXATION WARD 1(1), BANGALORE

In the result the appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

housing loan from HDFC Bank to the extent of Rs.55,00,000/-. The statement of HDFC Loan account was also submitted before the AO and as well as DRP. Further, with regard to balance of funding to the extent of Rs.14,00,000/- for the property, the assessee explained as below- 1. Rs.5,00,000/- was paid through vide

MR. BHASKAR JOSEPH,BANGALORE vs. INCOME TAX OFFICER, WARD- 6(2)(2), BANGALORE

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

Bench: Shri Chandra Poojariassessment Year: 2015-16

69C of the Act making the cash flow statement provided by the assessee the basis of his addition. 10. Section 44 AD of the Act reads as under: "44AD (1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent

M/S. KHODAY INDIA LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(1)(2), BANGALORE

In the result appeal filed by assessee stands allowed

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 M/S. Khoday India Ltd., The Income-Tax 7Th Mile, Brewery House, Officer, Kanakapura Road, Ward 4 (1)(2), Bangalore – 560 062. Bangalore. Pan: Aaack6734C Vs. Appellant Respondent Assessee By : Shri V. Sridhar, Ca : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 30-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 09/12/2021 Passed By The Ld.Cit(A)-11, Bangalore For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru-11, Bengaluru In Ita No.Cit(A)- 11/Bng/Tr.10036/2018-19 (Din: Itba /Apl /M/ 250 /2021-22/ 1037634908(1) Dated:09.12.2021 Is Opposed To Law, Weight Of Evidence, Probabilities & Facts & Circumstances Of The Case. 2. The Learned Commissioner Of Income-Tax (Appeals) Erred In Confirming The Order Of The Assessing Officer Passed U/S.154 Of The Income Tax Act, 1961 Dated:14.02.2018. 3. The Learned Commissioner Of Income-Tax (Appeals) Erred In Not Directing The Assessing Officer To Set Off The Entire

House, Officer, Kanakapura Road, Ward 4 (1)(2), Bangalore – 560 062. Bangalore. PAN: AAACK6734C Vs. APPELLANT RESPONDENT Assessee by : Shri V. Sridhar, CA : Shri Ramesh B.R., Addl. CIT Revenue by (DR) Date of Hearing : 09-06-2022 Date of Pronouncement : 30-06-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal is filed by the assessee against order dated 09/12/2021

DCIT, BANGALORE vs. SHRI. P.N. MANJUNATH, BANGALORE

In the result, the appeals of the revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

house property. Further, the assessee had also paid Rs.25,541/- as interest on borrowed capital which was sought to be set off against the remuneration from M/s. Soundarya Silk Process. The Assessing ITA Nos.29 & 30/Bang/202015 P.N. Manjunath, Bangalore Page 5 of 7 Officer without any justification, disallowed these interest payments by invoking Section 14A. Further, the assessee had declared remuneration

DCIT, BANGALORE vs. SHRI. P.N. MANJUNATH, BANGALORE

In the result, the appeals of the revenue are allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

house property. Further, the assessee had also paid Rs.25,541/- as interest on borrowed capital which was sought to be set off against the remuneration from M/s. Soundarya Silk Process. The Assessing ITA Nos.29 & 30/Bang/202015 P.N. Manjunath, Bangalore Page 5 of 7 Officer without any justification, disallowed these interest payments by invoking Section 14A. Further, the assessee had declared remuneration

KEELUKOTE VENKATAPPA JAYARAM,KOLAR vs. DCIT, CENTRAL CIRCLE-2(2) , BANGALORE

Appeals are disposed of as above

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K

69C of the Act. Furthermore, a sum of Rs. 4,98,000/- was included in the total income for credits in the Assessee’s bank account for which no explanation was provided. As a result, the Assessment Order was passed u/s. 144 read with Section 153C of the Income Tax Act on 31.12.2018, determining a total income

KEELUKOTE VENKATAPPA JAYARAM,KOLAR vs. DCIT, CENTRAL CIRCLE-2(2) , , BANGALORE

Appeals are disposed of as above

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K

69C of the Act. Furthermore, a sum of Rs. 4,98,000/- was included in the total income for credits in the Assessee’s bank account for which no explanation was provided. As a result, the Assessment Order was passed u/s. 144 read with Section 153C of the Income Tax Act on 31.12.2018, determining a total income

KEELUKOTE VENKATAPPA JAYARAM,KOLAR vs. DCIT, CENTRAL CIRCLE-2(2), BENGALURU

Appeals are disposed of as above

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K

69C of the Act. Furthermore, a sum of Rs. 4,98,000/- was included in the total income for credits in the Assessee’s bank account for which no explanation was provided. As a result, the Assessment Order was passed u/s. 144 read with Section 153C of the Income Tax Act on 31.12.2018, determining a total income

KEELUKOTE VENKATAPPA JAYARAM,KOLAR vs. DCIT, CENTRAL CIRCLE-2(2) , BANGALORE

Appeals are disposed of as above

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K

69C of the Act. Furthermore, a sum of Rs. 4,98,000/- was included in the total income for credits in the Assessee’s bank account for which no explanation was provided. As a result, the Assessment Order was passed u/s. 144 read with Section 153C of the Income Tax Act on 31.12.2018, determining a total income

KEELUKOTE VENKATAPPA JAYARAM,KOLAR vs. DCIT, CENTRAL CIRCLE-2(2) , BENGALURU

Appeals are disposed of as above

Bench: Shri Prashant Maharishi, Vice – & Shri Soundararajan K

69C of the Act. Furthermore, a sum of Rs. 4,98,000/- was included in the total income for credits in the Assessee’s bank account for which no explanation was provided. As a result, the Assessment Order was passed u/s. 144 read with Section 153C of the Income Tax Act on 31.12.2018, determining a total income