K. G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

K.G. KRISHNA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credit u/s 68 of the Act on the ground that the appellant has not proved the cash deposits made in the bank accounts. On proper appreciation of facts and law applicable, the cash deposits are duly explainable. The addition as made/ confirmed is wholly erroneous is to be deleted. Me appellant denies the liability to pay interest

SRI. GIRISH MALLESH,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-6(2)(1), BANGALORE

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

house property and other sources. The assessee has been maintaining books of account for the business carried on and the same is also subject to audit u/s 44AB of the Act. 2.2 For the year under appeal, the assessee e-filed his return of income on 27/10/2017 declaring a total loss of Rs.25,25,971/- from the aforesaid sources

SRI. GIRISH MALLESH,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-6(2)(1), BANGALORE

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

house property and other sources. The assessee has been maintaining books of account for the business carried on and the same is also subject to audit u/s 44AB of the Act. 2.2 For the year under appeal, the assessee e-filed his return of income on 27/10/2017 declaring a total loss of Rs.25,25,971/- from the aforesaid sources

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. SHRI C J VISHWANTH , CHIKKAMAGALURU

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. SHRI C J VISHWANTH , CHICKAMANGALUR

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 2 (3), BENGALURU vs. SHRI C J VISHWANTHA, CHICKAMANGALURU

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. SHRI C J VISHWANATH , CHIKKAMAGALURU

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. SHRI C J VISHWANTH , CHIKKAMANGALURU

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(3), BANGALORE vs. SHRI C J VISHWANTH , CHIKKAMAGALURU

In the result, all the appeals filed by the Revenue are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

unexplained cash credits was not proved to be transformed in the form of any undisclosed asset/income and that being so it cannot be said that the cash credits in the Bank Account would constitute Income chargeable to tax. 30. The judicial decisions relied upon by the AR are considered and found that both the sides of the Bank accounts being

VISHWANATHAREDDY CHENNAREDDY,BANGALORE vs. INCOME-TAX OFFICER, WARD-2(2)(7), BENGALURU

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

Bench: SHRI CHANDRA POOJARI (Accountant Member), SMT. BEENA PILLAI (Judicial Member)

unexplained cash credit under section 68 of the Act in the books of the Assessee. The learned CIT (Appeals) completely erred in including the expenditure in the taxable income under Section 68 of the Act, a section that the learned Assessing Officer did not invoke. Moreover, the learned CIT (Appeals) failed to provide adequate justification for applying cash credit provisions

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

VEERANNA MURTHY RAGHAVENDRA DEEKSHITH,BENGALURU vs. INCOME TAX OFFICER, WARD 6(2)(4), BENGALURU

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

unexplained cash credit just because cash was accepted during demonetisation which is against the intention of demonetisation which was not to penalise genuine business transactions in the facts and circumstances of the case. 7. Without prejudice, the Learned Commissioner of Income-tax (Appeals) erred in making an addition of Rs. 50,25,540/- without reducing the equivalent turnover

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

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 of the total turnover or gross

SMT. REHANA ABDUL JABBAR,MANGALURU vs. ASSISTANT COMMISSIONER OF INCOME-TAX, (INTERNATIONAL TAXATION), MANGALURU

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

unexplained cash credits under the facts and in the circumstances of the appellant's case. 5. Without prejudice to the right to seek waiver with the Hon'ble CCIT/DG, the appellant denies herself liable to be charged to interest u/s. 234-B and 234-D of the Act, which under the facts and in the circumstances of the appellant

SANDEEP REDDY YARABAKA CHENCHU,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

In the result, appeal of the assessee is allowed

Bench: Shri George George K. & Shri Chandra Poojariassessment Year: 2017-18

unexplained cash to bank account due to demonetization. Against this, assessee is in appeal before us. 3.3 The ld. A.R. submitted that assessee has been earning rental income from house property and consistently and continuously keeping huge amount of cash in hand so as to meet the unforeseen maintenance cost to be incurred by the assessee and this has been