M/S. CANARA BANK (ERSTWHILE SYNDICATE BANK),BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE

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

5,34,77,332 Commercial 1,40,62,786 - - - 1,33,34,195 12,00,07,752 Total 7,03,54, - - - 1,61,48,791 17,34,85,084 4. During the reassessment proceedings, the AO observed that the assessee has claimed a sum of Rs.936,90,65,332 as deduction u/s. 36(1)(viia

M/S. CANARA BANK (ERSTWHILE SYNDICATE BANK),BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE

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

5,34,77,332 Commercial 1,40,62,786 - - - 1,33,34,195 12,00,07,752 Total 7,03,54, - - - 1,61,48,791 17,34,85,084 4. During the reassessment proceedings, the AO observed that the assessee has claimed a sum of Rs.936,90,65,332 as deduction u/s. 36(1)(viia

INMOBI TECHNOLOGY SERVICES PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE3(1)(1), BANGALORE

reassessment or recomputation or fresh assessment, as the case may be, expires'. Since the time limit for passing of the order by the TPO is not direct but is linked with the time limit as per section 153, the legislature did not insert any sunset clause in section 153, which would have otherwise made the provision of sub-section

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE

In the result, the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Section 69 of I.T. Act, 1961 and adding it to the total income of the assessee". 5. It can be seen that identical amount in dollar is considered as unexplained investment for all the years and for all the year identical ITA Nos.554 & 555/Bang/2018 Page 5 of 64 conversion rate of Rs. 40.26 is adopted. the conversion rate of dollar

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), , BANGALORE

In the result, the appeals by the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

Section 69 of I.T. Act, 1961 and adding it to the total income of the assessee". 5. It can be seen that identical amount in dollar is considered as unexplained investment for all the years and for all the year identical ITA Nos.554 & 555/Bang/2018 Page 5 of 64 conversion rate of Rs. 40.26 is adopted. the conversion rate of dollar

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

4 of 49 5. The learned Commissioner of Income Tax (Appeals) erred in not appreciating the position of law that, in the absence of reason to believe and without any evidence to form such reason to believe that, income chargeable to tax has escaped assessment, the Assessing Officer could not have invoked the provisions of section

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S SNOWSHINE REALTORS PVT.LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

4 of 49 5. The learned Commissioner of Income Tax (Appeals) erred in not appreciating the position of law that, in the absence of reason to believe and without any evidence to form such reason to believe that, income chargeable to tax has escaped assessment, the Assessing Officer could not have invoked the provisions of section

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1-(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD., BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

4 of 49 5. The learned Commissioner of Income Tax (Appeals) erred in not appreciating the position of law that, in the absence of reason to believe and without any evidence to form such reason to believe that, income chargeable to tax has escaped assessment, the Assessing Officer could not have invoked the provisions of section

M/S. MUKKA PROTEINS LIMITED (FORMERLY KNOW AS MUKKA SEA FOOD INDUSTRIES LTD., ),MANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , MANGALURU

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

reassessment proceedings for the year 2003-04, it was found that purchases worth Rs.61.40 lakhs were not supported by sufficient evidence. Purchase of such goods from various suppliers was verified, but it was found that such parties had not supplied the goods as named by the assessee. The Assessing Officer made an addition of the entire amount of purchase

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), HUBBALLI vs. M/S. KARNATAKA VIKAS GRAMEEN BANK LIMITED, DHARWAD

In the result, the appeal of assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2016-17

5 (cci) read with ccvii read with section 56(C)]. e. The NABARD Act, also defines the different class of banks [see Sec 2 (d), (p) and (q) of NABARD Act] f. Section 22 of the regional rural bank clearly deems the RRB as Co operative society for income tax act 6. The appellant, M/s Karnataka Vikas Grameena Vikas Bank

M/S KARNATAKA VIKAS GRAMEENA BANK,DHARWAD vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), HUBBALLI

In the result, the appeal of assessee is partly allowed and the appeal of the revenue is dismissed

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2016-17

5 (cci) read with ccvii read with section 56(C)]. e. The NABARD Act, also defines the different class of banks [see Sec 2 (d), (p) and (q) of NABARD Act] f. Section 22 of the regional rural bank clearly deems the RRB as Co operative society for income tax act 6. The appellant, M/s Karnataka Vikas Grameena Vikas Bank

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

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

4) & (5) of section 12AB of the Act have been widened which included the powers for cancellation of registration. According to the same, it provides for the circumstances under which the PCIT has power to withdraw or cancel the registration granted under the Act. Those circumstances are specified to show that when the PCIT notices on his own occurrences

M/S. ACER INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, BANGALORE

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R Baskaran & Shri Pavan Kumar Gadale

4-2013 : (14A) The provisions of this section shall not apply to any assessment or reassessment order passed by the Assessing Officer with the prior approval of the Commissioner under sub- section (12) of section 144BA. (15) For the purposes of this section,— (a) "Dispute Resolution Panel" means a collegium comprising of three Commissioners of Income-tax constituted

S R CONSTRUCTIONS,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(2), BANGALORE

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

5,75,71,834/- for AY 2016-17 in respect of sub-contractors whose cheque books were not found from the SRC. On the above deletion by the ld. CIT(A), the view taken is correct since there was no cheque book found but names were included in the list prepared during the course of search. The finding

M/S VOLVO INDIA PVT. LTD. vs. ACIT, BANGALORE

In the result, appeal of the Assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

4-2013 : (14A) The provisions of this section shall not apply to any assessment or reassessment order passed by the Assessing IT(TP)A No.1537/Bang/2012 Page 8 of 58 Officer with the prior approval of the Commissioner under sub- section (12) of section 144BA. (15) For the purposes of this section,— (a) "Dispute Resolution Panel" means a collegium comprising

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

5 of 85 the AO to assess or re-assess income chargeable to tax, if he has reason to believe that income from any assessment year has escaped assessment. 4.2 The scope and effect of section 147 as substituted with effect from April 1, 1989, and also sections 148 to 152 are substantially different from the provisions as they stood

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

5 of 85 the AO to assess or re-assess income chargeable to tax, if he has reason to believe that income from any assessment year has escaped assessment. 4.2 The scope and effect of section 147 as substituted with effect from April 1, 1989, and also sections 148 to 152 are substantially different from the provisions as they stood

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

5 of 85 the AO to assess or re-assess income chargeable to tax, if he has reason to believe that income from any assessment year has escaped assessment. 4.2 The scope and effect of section 147 as substituted with effect from April 1, 1989, and also sections 148 to 152 are substantially different from the provisions as they stood