M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BANGALORE

iii) of sub-section (4) of section 12AB:\n5.0\nOn a reference being made by the AO as per second proviso to\nSection 143(3) of the Act, it is hereby proposed to invoke provisions of\nSection 12AB(4) of the Act that empower the Principal Commissioner or\nITA Nos.2106 to 2109/Bang/2024\nPage 35 of 81\nCommissioner to cancel registration

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

In the result, the appeals filed by the assessee for all the four A

Bench: SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER\nAND\nSHRI SOUNDARARAJAN K. (Judicial Member)

10 to 18)\nM/S TOYOTA TAUSHO INDIA PRIVATE LIMITED\nv. DCIT WP NO. 19053 OF 2021 (T-IT) (KAR HC)\n(para 7 & 8)\nYeshoda Electricals υ. Dy. CIT [ITA No.\n1175/B/2016, dated 03.02.2021] (Bang. – Trib.)\n(para 38 -39_\nVikas Gupta v. UOI [2022] 448 ITR 1 (Allahabad)\n(para 22 to 25)\nReference\nCLI 3 – Pg.\n1774

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BENGALURU

iii) of sub-section (4) of section 12AB:\n5.0\nOn a reference being made by the AO as per second proviso to\nSection 143(3) of the Act, it is hereby proposed to invoke provisions of\nSection 12AB(4) of the Act that empower the Principal Commissioner or\nPage 35 of 81\nITA Nos.2106 to 2109/Bang/2024\nCommissioner to cancel registration

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

10 to 18)\nM/S TOYOTA TAUSHO INDIA PRIVATE LIMITED\nv. DCIT WP NO. 19053 OF 2021 (T-IT) (KAR HC)\n(para 7 & 8)\nYeshoda Electricals υ. Dy. CIT [ITA No.\n1175/B/2016, dated 03.02.2021] (Bang. – Trib.)\n(para 38 -39_\nVikas Gupta v. UOI [2022] 448 ITR 1 (Allahabad)\n(para 22 to 25)\nReference\nCLI 3 – Pg.\n1774

INCOME TAX OFFICER, W-1, VIJAYANAGAR vs. RAMACHANDRA SETTY AND SONS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

10. The contention of the ld. D.R. is that in this case, assessee had filed Return of Income for the assessment year 2015-2016 on 20.09.2015 declaring total income of Rs.89,39,000/-. A Search and Seizure action u/s.132 of the Income-tax Act, 1961 was carried out in the case of the assessee on 24.06.2016. Subsequent to the notice

INCOME TAX OFFICER W 1, HASSAN vs. RAMACHANDRA SETTY AND SONS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

10. The contention of the ld. D.R. is that in this case, assessee had filed Return of Income for the assessment year 2015-2016 on 20.09.2015 declaring total income of Rs.89,39,000/-. A Search and Seizure action u/s.132 of the Income-tax Act, 1961 was carried out in the case of the assessee on 24.06.2016. Subsequent to the notice

INCOME TAX OFFICER, W-1, HASSAN vs. RAMACHANDRA SETTY & SONS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

10. The contention of the ld. D.R. is that in this case, assessee had filed Return of Income for the assessment year 2015-2016 on 20.09.2015 declaring total income of Rs.89,39,000/-. A Search and Seizure action u/s.132 of the Income-tax Act, 1961 was carried out in the case of the assessee on 24.06.2016. Subsequent to the notice

INCOME TAX OFFICER WARD-1 HASSAN, HASSAN vs. RAMACHANDRA SETTY AND SONGS, HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

10. The contention of the ld. D.R. is that in this case, assessee had filed Return of Income for the assessment year 2015-2016 on 20.09.2015 declaring total income of Rs.89,39,000/-. A Search and Seizure action u/s.132 of the Income-tax Act, 1961 was carried out in the case of the assessee on 24.06.2016. Subsequent to the notice

M/S. S. RAMASHANDRA SETTY & SONS,HASSAN vs. INCOME TAX OFFICER, WARD-1 , HASSAN

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

10. The contention of the ld. D.R. is that in this case, assessee had filed Return of Income for the assessment year 2015-2016 on 20.09.2015 declaring total income of Rs.89,39,000/-. A Search and Seizure action u/s.132 of the Income-tax Act, 1961 was carried out in the case of the assessee on 24.06.2016. Subsequent to the notice

M/S. BHARAT BEEDI WORKS PRIVATE LIMITED,MANGALURU vs. DEPUTY COMMISIONER OF INCOME TAX, CENTRAL CIRCLE - 2, MANGALURU

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

10 to 18)\nM/S TOYOTA TAUSHO INDIA PRIVATE LIMITED\nv. DCIT WP NO. 19053 OF 2021 (T-IT) (KAR HC)\n(para 7 & 8)\nYeshoda Electricals υ. Dy. CIT [ITA No.\n1175/B/2016, dated 03.02.2021] (Bang. – Trib.)\n(para 38 -39\nVikas Gupta v. UOI [2022] 448 ITR 1 (Allahabad)\n(para 22 to 25)\n\nReference\nCLI 3 – Pg.\n1774

IIFL SAMASTA FINANCE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE

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

25,28,401/- by making two disallowances in the\nassessment order viz. (a) disallowance of employee's share of\nprovident contribution u/s 36(1)(va) of the Act amounting to\nRs.16,61,049/- and (b) disallowance of education cess claimed as\ndeduction u/s 37 of the Act amounting to Rs.1,22,79,936/-. It is an\nundisputed fact that

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

reassess income of such “other person” in accordance with the provisions of section 153A of the Act. 4.5 In the present case, the ld. AO being Deputy Commissioner of Income-tax Central Circle-1, Mangalore having recorded the satisfaction for proceedings u/s 153C of the Act after duly recording the satisfaction as follows: “A search was initiated under section

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

reassess income of such “other person” in accordance with the provisions of section 153A of the Act. 4.5 In the present case, the ld. AO being Deputy Commissioner of Income-tax Central Circle-1, Mangalore having recorded the satisfaction for proceedings u/s 153C of the Act after duly recording the satisfaction as follows: “A search was initiated under section

AKSHAY KUMAR RUNGTA,BANGALORE vs. INCOME TAX OFFICER, WARD 2(1), INTERNATIONAL TAXATION

In the result, appeal filed by the assessee is allowed as per above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyit(It)A No.66/Bang/2024 Assessment Year :2015-16

10. Learned Additional Solicitor General of India has submitted that the unsigned satisfaction of the PCIT stands validated in view of section 282A of the Act, 1961 inasmuch as the digital or physical unsigned satisfaction recorded by the PCIT shall be deemed to be authenticated under section 282A of the Act, 1961 read with rule 127A of the Income

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BENGALURU

iii) of sub-section (4) of section 12AB:\n5.0\nOn a reference being made by the AO as per second proviso to\nSection 143(3) of the Act, it is hereby proposed to invoke provisions of\nSection 12AB(4) of the Act that empower the Principal Commissioner or\nCommissioner to cancel registration granted under Section

TUNGABHADRA PATTINA SOUHARDA SAHAKARI SANGHA NIYAMITHA,SINDHANUR vs. INCOME TAX OFFICER, WARD -1, RAICHUR

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

iii)……. (xxviii) the National e-Assessment Centre shall, - (a) upon receipt of acceptance as per clause (xxvii); or (b) if no objections are received from the eligible assessee within the period specified in sub-section (2) of section 144C of the Act, finalise the assessment within the time allowed under sub-section (4) of section 144C

M/S. CRYSTAL GRANITE AND MARBLE PRIVATE LIMITED,RAMANAGARAM vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes and Stay Petition is dismissed as infructuous

Bench: Shri George George K & Shri Laxmi Prasad Sahus.P No.29/Bang/2023 Assessment Year: 2017-18

iii), page no. 10 of Paper Book of Appeal Memo) In this regard, it is submitted that, a. In response to the notice u/s 148 dated 30-06-2021, the Appellant filed the return of income on 15th September, 2021 vide acknowledgement number 514987820150921. The copy of the return of income is submitted as Annexure 9 of this paper book

SHRI. ANANTULA VIJAY MOHAN ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Keshav Dubey\Nita Nos.2059 & 2060/Bang/2024\N Assessment Years: 2016-17 & 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No: Aelpm6515K\Nappellant\Nvs.\Nvs.\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nsp No.67/Bang/2024\N(Arising Out Of Ita No.2060/Bang/2024)\N Assessment Year: 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No: Aelpm6515K\Nappellant\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nappellant By\Nrespondent By\Nsri Padma Khincha, A.R.\Nsri Sridhar E., D.R.\Ndate Of Hearing\N: 18.02.2025\Ndate Of Pronouncement: 07.05.2025\Norder\Nper Laxmi Prasad Sahu:\Nthese Appeals At The Instance Of The Assessee Are Directed\Nagainst The Orders Of Ld. Cit(A)/Nfac, Delhi Both Dated 23.09.2024\Nvide Din & Order No. Itba/Nfac/S/250/2024-25/1068988279(1)\Nfor The Assessment Year 2016-17 & Vide Din & Order\Nno.Itba/Nfac/S/250/2024-25/1068999127(1) For The Assessment\Nyear 2017-18 Passed U/S 250 Of The Income Tax Act, 1961 (In Short\N'The Act'). Since Both These Appeals & The Stay Petition Are Of The\Nsame Assessee For The Different Assessment Years, These Are Clubbed\Ntogether, Heard Together & Disposed Of By This Common Order For\Nthe Sake Of Convenience & Brevity.\Nita No.2059/Bang/2024 (Ay 2016-17):\N2. First, We Take Up Ita No.2059/Bang/2024 For The Ay 2016-\N17 Wherein The Assessee Has Raised The Following Grounds Of Appeal:\N1. General\N1.

25,08,490/-. During the year under appeal, the Assessee sold\nhis investment in SmartPlay. The short-term capital gains ('STCG')\nof Rs 75,73,97,892/- arose from such sale. The assessee in the\nsame previous year i.e. on 10.09.2015 and 11.09.2015 also\npurchased 87,000 shares of Bharat Electronics Limited ['BEL' for\nbrevity] amounting to Rs.29

ANANTULA VIJAY MOHAN ,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6(1)(1), BANGALORE

In the result, appeals filed by the assessee are allowed

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Keshav Dubey\Nita Nos.2059 & 2060/Bang/2024\N Assessment Years : 2016-17 & 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No:Aelpm6515K\Nappellant\Nvs.\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nsp No.67/Bang/2024\N(Arising Out Of Ita No.2060/Bang/2024)\N Assessment Year: 2017-18\Nanantula Vijay Mohan\N9, Banjara Avenue Road\Nno.1, Banjara Hills\Nhyderabad 500 034\Npan No: Aelpm6515K\Nappellant\Nvs.\Ndcit\Ncircle-6(1)(1)\Nbangalore\Nrespondent\Nappellant By\Nrespondent By\N: Sri Padma Khincha, A.R.\N: Sri Sridhar E., D.R.\Ndate Of Hearing\Ndate Of Pronouncement:\N: 18.02.2025\N: 07.05.2025\Norder\Nper Laxmi Prasad Sahu:\Nthese Appeals At The Instance Of The Assessee Are Directed\Nagainst The Orders Of Ld. Cit(A)/Nfac, Delhi Both Dated 23.09.2024\Nvide Din & Order No. Itba/Nfac/S/250/2024-25/1068988279(1)\Nfor The Assessment Year 2016-17 & Vide Din & Order\Nno.Itba/Nfac/S/250/2024-25/1068999127(1) For The Assessment\Nyear 2017-18 Passed U/S 250 Of The Income Tax Act, 1961 (In Short\N\"The Act\"). Since Both These Appeals & The Stay Petition Are Of The\Nsame Assessee For The Different Assessment Years, These Are Clubbed\Ntogether, Heard Together & Disposed Of By This Common Order For\Nthe Sake Of Convenience & Brevity.\Nita No.2059/Bang/2024 (Ay 2016-17):\N2. First, We Take Up Ita No.2059/Bang/2024 For The Ay 2016-\N17 Wherein The Assessee Has Raised The Following Grounds Of Appeal:\N1. General\N1.

25,08,490/-. During the year under appeal, the Assessee sold\nhis investment in SmartPlay. The short-term capital gains ('STCG')\nof Rs 75,73,97,892/- arose from such sale. The assessee in the\nsame previous year i.e. on 10.09.2015 and 11.09.2015 also\npurchased 87,000 shares of Bharat Electronics Limited ['BEL' for\nbrevity] amounting to Rs.29