BHADRAVATHI RAMALINGASETTY MANJUNATH SETTY,BHADRAVATHI vs. ITO WARD-1 TPS , SHIMOGA

In the result, appeal filed by the assessee is allowed

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2018-19

271-G' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.][, clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272-A, sub-section (1) of section 272-AA or ] [Inserted by Act 46 of 1986, Section 26 (w.e.f. 10.9.1986).][section 272-B or] [ Inserted by Act 20 of 2002, Section 106 (w.e.f

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, CIRCLE-1(2)(1) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 197, in respect to deductibility of tax on similar receipts - The CIT(A) highlighted that section 195(2) and section 197 of the Act are in the nature of safeguard sections to make sure that taxes are rightfully deducted on payments. - The CIT(A) has thereafter contended that the Assessee has not availed any of the safeguards and basis

IBM CORPORATION,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 197, in respect to deductibility of tax on similar receipts - The CIT(A) highlighted that section 195(2) and section 197 of the Act are in the nature of safeguard sections to make sure that taxes are rightfully deducted on payments. - The CIT(A) has thereafter contended that the Assessee has not availed any of the safeguards and basis

IBM UNITED KINGDOM LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 197, in respect to deductibility of tax on similar receipts - The CIT(A) highlighted that section 195(2) and section 197 of the Act are in the nature of safeguard sections to make sure that taxes are rightfully deducted on payments. - The CIT(A) has thereafter contended that the Assessee has not availed any of the safeguards and basis

IBM ISRAEL LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX , INTERNATIONAL TAXATION-CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessees are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 197, in respect to deductibility of tax on similar receipts - The CIT(A) highlighted that section 195(2) and section 197 of the Act are in the nature of safeguard sections to make sure that taxes are rightfully deducted on payments. - The CIT(A) has thereafter contended that the Assessee has not availed any of the safeguards and basis

GOPAL KRISHNA KARODI SABBANA,DAKSHINA KANNADA vs. DY./ASST.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2,, MANGALORE

In the result, appeals filed by the assessee for all these AY are allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s. 271B of the Act were levied by the AO for all these AYs under consideration. Before AO, the assessee submitted his reply stating that the major reason for delay in filing the audit reports was due to the fact that he was suffering from blood pressure & Diabetes & frequently admitted to the hospital. Further, he also submitted that his auditor

GOPAL KRISHNA KARODI SABBANA,DAKSHINA KANNADA vs. DY./ASST.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2, MANGALORE

In the result, appeals filed by the assessee for all these AY are allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s. 271B of the Act were levied by the AO for all these AYs under consideration. Before AO, the assessee submitted his reply stating that the major reason for delay in filing the audit reports was due to the fact that he was suffering from blood pressure & Diabetes & frequently admitted to the hospital. Further, he also submitted that his auditor

GOPAL KRISHNA KARODI SABBANA ,DAKSHINA KANNADA vs. DY./ASST.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2, MANGALORE

In the result, appeals filed by the assessee for all these AY are allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s. 271B of the Act were levied by the AO for all these AYs under consideration. Before AO, the assessee submitted his reply stating that the major reason for delay in filing the audit reports was due to the fact that he was suffering from blood pressure & Diabetes & frequently admitted to the hospital. Further, he also submitted that his auditor

GOPAL KRISHNA KARODI SABBANA,DAKSHINA KANNADA vs. DY./ASST.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2, MANGALORE

In the result, appeals filed by the assessee for all these AY are allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s. 271B of the Act were levied by the AO for all these AYs under consideration. Before AO, the assessee submitted his reply stating that the major reason for delay in filing the audit reports was due to the fact that he was suffering from blood pressure & Diabetes & frequently admitted to the hospital. Further, he also submitted that his auditor

SRI. CHINNAYELLAPPA CHANDRASHEKAR, ,BANGALORE vs. INCOME TAX OFFICER, WARD-4(2)(4), BANGALORE

In the result, appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2017-18

271-G' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.][, clause (c) or clause (d) of sub-section (1) or sub-section (2) of section 272-A, sub-section (1) of section 272-AA or ] [Inserted by Act 46 of 1986, Section 26 (w.e.f. 10.9.1986).][section 272-B or] [ Inserted by Act 20 of 2002, Section 106 (w.e.f

GOPAL KRISHNA KARODI SABBANA,DAKSHINA KANNADA vs. DY./ASST.COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2, MANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s. 271B of the Act were levied by the AO for all these AYs under consideration. Before AO, the assessee submitted his reply stating that the major reason for delay in filing the audit reports was due to the fact that he was suffering from blood pressure & Diabetes & frequently admitted to the hospital. Further, he also submitted that his auditor

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE vs. SANTOSH SHIVAJI LAD, BANGALORE

In the result, the appeal of the Revenue is hereby dismissed

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2013-14

55,20,973/- only. 7.2 Further, regarding interest income, the AO found that the assessee declared only ₹22,07,803/- as interest earned but claimed ₹40,66,247/- as interest expense. On being asked for clarification, the assessee only stated that the borrowed funds were used to earn interest . Page 5 of 16 income through fixed deposits

M/S STUMP SCHUELE AND SOMAPPA SPRINGS PRIVATE LIMITED ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX LTU CIRCLE-1 , BANGALORE

In the result, the assessee’s appeal for Assessment Year 2012-13

Bench: Shri Jason P. Boaz & Shri Pavan Kumar Gadaleassessment Year : 2012-13 M/S. Stumpp Schuele & Vs. The Deputy Commissioner Of Somappa Springs Pvt. Ltd., Income Tax, Ltu, No.139/2, Hosur Road, Circle - 1, Koramangala, Bengaluru. Bengaluru-560 095. Pan : Aalcs 7347 E Appellant Respondent Assessee By : Smt. Sowmya, Advocate Revenue By : Shri. M. Rajasekhar, Addl. Cit Date Of Hearing : 14.03.2019 Date Of Pronouncement : 15.03.2019 O R D E R Per Jason P. Boazthis Appeal By The Assessee Is Directed Against The Order Of Cit(A)-10, Bangalore, Dated 01.02.2018 For Assessment Year 2012-13, Upholding The Levy Of Penalty Under Section 271(1)(C) Of The Income Tax Act, 1961 (In Short ‘The Act’) For Assessment Year 2012-13. 2. Briefly Stated, The Facts Relevant For Disposal Of This Appeal Are As Under: Page 2 Of 9 2.1 The Assessee, A Company Engaged In The Manufacture & Supply Of Stabilizer Bars & All Varieties Of Springs, Automobile Components, Spare Parts, Accessories, Etc., Filed Its Return Of Income For Assessment Year 2012-13 On 30.09.2012 Declaring Loss Of (-) Rs.5,34,42,031/- Under Normal Provisions & ‘Book Profits’ Of Rs.2,88,52,729/- Under Section 115Jb Of The Act. The Case Was Taken Up For Assessment For This Assessment Year & The Assessment Was Concluded Under Section 143(3) Of The Act Vide Order Dated 13.03.2015, Wherein The Assessee’S Loss Was Determined At Rs.4,55,68,066/- In View Of The Following Additions / Deductions:- (I) Disallowance Of Deduction Under Section 35(2Ab) – Rs.14,34,982/- (Ii) Disallowance Of Leave Encashment – Rs.64,38,983/-.

55,68,066/- in view of the following additions / deductions:- (i) Disallowance of deduction under section 35(2AB) – Rs.14,34,982/- (ii) Disallowance of Leave Encashment – Rs.64,38,983/-. 2.2 Penalty proceedings under section 271(1)(c) of the Act was initiated simultaneously vide notice under section 274 r.w.s. 271(1)(c) of the Act of even date in respect

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(1)(1) , BANGALORE vs. MITSUBISHI HEAVY INDUSTRIES-VST DIESEL ENGINES PRIVATE LIMITED, MYSURU

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2016-17

55,130/ and accordingly the penalty u/s. 271(1)(c) was initiated on 17.12.2018 for furnishing inaccurate particulars of income. Page 5 of 19 4.7 The assessee also filed for rectification u/s 154 on 20.12.2018 before the AO to consider the suo motto challan paid on 30.05.2018 and rectify the additions and demand raised by the AO. The AO vide

MR K. P. MANJUNATHA REDDY,BANGALORE vs. THE INCOME TAX OFFICER, WARD 4(3)(2), BANGALORE

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

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

271(1)(c) of the Act. 10. The appellant submits that each of the above grounds is independent and without prejudice to one another. 2. Facts of the case are that the A.O. made addition of Rs.2.06 crores as long term capital gain arising from sale of land situated at Survey No.40, Chikkanahalli Kammanahalli, Sarjapur hobli, Anekal Taluk, Bengaluru

JICE ACADEMY FOR EXCELLENCE PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER, NFAC, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

271 D of the I.T. Act 1961. Accordingly, the Addl.CIT invoked the provisions of section 271D and levied penalty at Rs.15,64,50,000 for accepting loan in cash in violation of provisions of section 269SS as per section 271D of the Act. 19. The main contention of the ld. AR is that the transaction is genuine

AKASH EDUCATION & DEVELOPMENT TRUST,BENGALURU vs. ADDITIONAL COMMISSIONER OF INCOME TAX, CENTRAL RANGE-2, BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

271 D of the I.T. Act 1961. Accordingly, the Addl.CIT invoked the provisions of section 271D and levied penalty at Rs.15,64,50,000 for accepting loan in cash in violation of provisions of section 269SS as per section 271D of the Act. 19. The main contention of the ld. AR is that the transaction is genuine

M/S. SUCO SOUHARDA SAHAKARI BANK LTD., ,BELLARY vs. THE JOINT DIRECTOR OF INCOME TAX(INTELLIGENCE & CRIMINAL INVESTIGATION), BENGALURU

In the result, appeals of the assessee are allowed

Bench: Shri George George K & Shri Laxmi Prasad Sahu

u/s 271FA of the Act for the year under consideration.” 10. Similar view has been taken by the Bangalore Benches of the Tribunal in the cases of Nehrunagar Co-operative Bank Ltd., Vs. DIT (I & CI), Bangalore in ITA Nos.965 to 967/Bang/2019 (order dated 26/06.2020), The South Canara ITA Nos.263 to 271/Bang/2023 Page 7 of 11 District Central Co-operative

M/S. SUCO SOUHARDA SAHAKARI BANK LTD., ,BELLARY vs. THE JOINT DIRECTOR OF INCOME TAX(INTELLIGENCE & CRIMINAL INVESTIGATION), BENGALURU

In the result, appeals of the assessee are allowed

Bench: Shri George George K & Shri Laxmi Prasad Sahu

u/s 271FA of the Act for the year under consideration.” 10. Similar view has been taken by the Bangalore Benches of the Tribunal in the cases of Nehrunagar Co-operative Bank Ltd., Vs. DIT (I & CI), Bangalore in ITA Nos.965 to 967/Bang/2019 (order dated 26/06.2020), The South Canara ITA Nos.263 to 271/Bang/2023 Page 7 of 11 District Central Co-operative