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

Section 34 of the Act that entries in the books of ITA Nos.1156 & 1163 to 1166/Bang/2023 M/s. S. Ramachandra Setty & Sons, Hassan Page 52 of 104 account regularly kept in the course of business are relevant whenever they refer to a matter in which the Court has to enquire was subject to the salient proviso that such entries shall

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

Section 34 of the Act that entries in the books of ITA Nos.1156 & 1163 to 1166/Bang/2023 M/s. S. Ramachandra Setty & Sons, Hassan Page 52 of 104 account regularly kept in the course of business are relevant whenever they refer to a matter in which the Court has to enquire was subject to the salient proviso that such entries shall

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

Section 34 of the Act that entries in the books of ITA Nos.1156 & 1163 to 1166/Bang/2023 M/s. S. Ramachandra Setty & Sons, Hassan Page 52 of 104 account regularly kept in the course of business are relevant whenever they refer to a matter in which the Court has to enquire was subject to the salient proviso that such entries shall

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE , BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S. RAJESH EXPORTS LIMITED,BENGALURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1(2), BENGALURU

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S RAJESH EXPORTS LIMITED ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(2), BANGALORE

In the result, all these seven appeals are partly allowed in the terms indicated above

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodia

reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which is not unearthed during ITA Nos.928 to 931/Bang/2017 & 174 to 176/Bang/2018

M/S SHETTY CONSTRUCTIONS ,KALABURAGI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-(1), KALABURAGI

In the result, the appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri A.K.Garodiaita No.286(Bang)/2019 (Assessment Year : 2007-08) M/S Shetty Constructions, Shetty Enclave, Aland Road, Kalaburagi-585 103 Panno.Aaffs1811G Appellant Vs The Asst. Commissioner Of Income Tax, Circle-(1), Kalaburagi Respondent Appellant By : Shri Sreehari Kutsa, Advocate Revenue By : Shri Manjeet Singh, Addl.Cit

293 3,74,366 Dif Difference in cost of construction brought to tax u/s 69B 4. Shah Bazar Land Val Vaue of the land estimated by the DVO 95,16,000 Le Less: Cost admitted in by the assessee Nil Va Value of the undisclosed investment brought to tax u/s 69 95,16,000 5. Addition made towards un-vouched

M/S. MANGALORE ROUND TABLE TRUST,MANGALORE vs. COMMISSIONER OF INCOME TAX (EXEMPTIONS), BANGALORE

In the result, the appeal is partly allowed

Bench: Shri N.V.Vasudevan & Shri A.K.Garodiaita No.286(Bang)/2019 (Assessment Year : 2007-08) M/S Shetty Constructions, Shetty Enclave, Aland Road, Kalaburagi-585 103 Panno.Aaffs1811G Appellant Vs The Asst. Commissioner Of Income Tax, Circle-(1), Kalaburagi Respondent Appellant By : Shri Sreehari Kutsa, Advocate Revenue By : Shri Manjeet Singh, Addl.Cit

293 3,74,366 Dif Difference in cost of construction brought to tax u/s 69B 4. Shah Bazar Land Val Vaue of the land estimated by the DVO 95,16,000 Le Less: Cost admitted in by the assessee Nil Va Value of the undisclosed investment brought to tax u/s 69 95,16,000 5. Addition made towards un-vouched

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

293/- c) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed to establish genuineness of the persons from whom purchases made is untenable & liable to be deleted under the facts & circumstances

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

293/- c) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed to establish genuineness of the persons from whom purchases made is untenable & liable to be deleted under the facts & circumstances

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

Accordingly, the appeals filed by the assessee are allowed in above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

293/- c) The authorities below failed to appreciate that the impugned purchases have been declared in the statutory returns filed under the Karnataka Value Added Tax Act, 2003 and thus the addition made by holding that the appellant failed to establish genuineness of the persons from whom purchases made is untenable & liable to be deleted under the facts & circumstances

M/S. EAGLE TRADERS & LOGISTICS,BELLARY vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 2(3), BANGALORE

293/-\nc) The authorities below failed to appreciate that the impugned\npurchases have been declared in the statutory returns filed\nunder the Karnataka Value Added Tax Act, 2003 and thus the\naddition made by holding that the appellant failed to establish\ngenuniness of the persons from whom purchases made is\nuntenable & liable to be deleted under the facts &\ncircumstances

M/S WIPRO LTD,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX, BANGALORE

In the result, all 6 appeals filed by the revenue are dismissed

Bench: Shri A.K. Garodia & Shri Laliet Kumar

reassessments. Similarly time limit for rectification of order is given in section 154; for passing revising order under section 263 etc. etc. In such a scenario the question arises that if no time limit is provided, then can any time limit be ITA Nos.1215 to 1220/ Bang/2014 & 18 to 23/Bang/2017, ITA Nos. 2328, 2335 to 2339/Bang/2016 Page

M/S WIPRO LTD,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX, BANGALORE

In the result, all 6 appeals filed by the revenue are dismissed

Bench: Shri A.K. Garodia & Shri Laliet Kumar

reassessments. Similarly time limit for rectification of order is given in section 154; for passing revising order under section 263 etc. etc. In such a scenario the question arises that if no time limit is provided, then can any time limit be ITA Nos.1215 to 1220/ Bang/2014 & 18 to 23/Bang/2017, ITA Nos. 2328, 2335 to 2339/Bang/2016 Page