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

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) of the Act in the computation of income filed with the return. The AO observed that as per section 36(1)(viia), assessee is eligible to get deduction to the extent of 7.5% of total income before

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

43 of 1961) (hereinafter referred to as the Income-tax Act) and the completion of any action, as referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to passing of any order—\n(α)........\n(b) for assessment or reassessment under the Income-tax Act, and the time limit for completion

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

5, 7 and 8.” We submit that, the facts of the appellant are similar to the facts narrated above in as much as the appellant had filed return of income for the A.y.2015-16 on 29.09.2015 declaring total income of Rs.89,39,000/-. There was no action on the return. The time limit for issue of notice U/s.143

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

5, 7 and 8.” We submit that, the facts of the appellant are similar to the facts narrated above in as much as the appellant had filed return of income for the A.y.2015-16 on 29.09.2015 declaring total income of Rs.89,39,000/-. There was no action on the return. The time limit for issue of notice U/s.143

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

5, 7 and 8.” We submit that, the facts of the appellant are similar to the facts narrated above in as much as the appellant had filed return of income for the A.y.2015-16 on 29.09.2015 declaring total income of Rs.89,39,000/-. There was no action on the return. The time limit for issue of notice U/s.143

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

5, 7 and 8.” We submit that, the facts of the appellant are similar to the facts narrated above in as much as the appellant had filed return of income for the A.y.2015-16 on 29.09.2015 declaring total income of Rs.89,39,000/-. There was no action on the return. The time limit for issue of notice U/s.143

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

5, 7 and 8.” We submit that, the facts of the appellant are similar to the facts narrated above in as much as the appellant had filed return of income for the A.y.2015-16 on 29.09.2015 declaring total income of Rs.89,39,000/-. There was no action on the return. The time limit for issue of notice U/s.143

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

43) is subject to unless the context otherwise\nrequires, in that view of the mater, the words any tax in section 40(a) (ii) includes Cess.\nThus it is a settled position that Cess being in tax, is not an allowable deduction u/s.\n40(a)(ii) of the I.T. Act. This amendment to the section has been made only after

SRI. ANNESH,UDUPI vs. INCOME-TAX OFFICER, WARD-1, CHIKMANGALUR

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari

5) SCC 302, Court held, if a statutory authority has been vested with jurisdiction he has to exercise it according to its own discretion. 39. In K.K. Loomba and Mrs. Uma Loomba Vs. Commissioner of Income Tax and others 2000 (241) ITR 152 (Delhi) it was held that A.O. having natural jurisdiction over the area would have jurisdiction to assess

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 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 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

IBM CANADA 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

5 of its order\nand it is based on failure by the Assessee to furnish certain details\nbefore the AO which is extracted in paragraph 2.1 of the CIT(A)'s\norder which was subject matter of the aforesaid appeal. The CIT(A)'s\norder which was subject matter of the aforesaid appeal in paragraph\n2.4 of his order

M/S. SHIVA FERRIC PRIVATE LIMITED,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), BENGALURU

The appeal is allowed

Bench: Shri George George K & Ms. Padmavathy Sassessment Year : 2012-13 M/S. Shiva Ferric Pvt. Ltd., No. 193, 4Th Floor, Shiv The Principal Sadan Outer Ring Road, Commissioner Of B. Narayanapura, Income-Tax [Central], Bangalore – 560 016. Bengaluru. Vs. Pan: Aaics4564L Appellant Respondent Assessee By : Ms. Sunaina Bhatia, Ca Revenue By : Ms. Neera Malhotra, Cit-Dr Date Of Hearing : 17-01-2023 Date Of Pronouncement : 24-01-2023 Order Per Padmavathy S

reassessment order on account of unexplained share premium received is settled by the assessee under DTVSV Scheme, however the issue of unexplained share capital of Rs. 40,46,000/- was not considered by the assessing officer during assessment proceedings and no addition was made, eventhough the information of the same was available with the AO during assessment proceedings. Regarding settlement

IBM CANADA 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

5 of its order\nand it is based on failure by the Assessee to furnish certain details\nbefore the AO which is extracted in paragraph 2.1 of the CIT(A)'s\norder which was subject matter of the aforesaid appeal. The CIT(A)'s\norder which was subject matter of the aforesaid appeal in paragraph\n2.4 of his order

IBM CHINA HONG KONG LIMITED,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

section\n195(2) and section 197 of the Act are\nin the nature of safeguard sections to\nmake sure that taxes are rightfully\ndeducted on payments.\nRebuttal to the CIT(A)'s observations\nProvisions of section 195(2)/ 197 of the\nAct are not mandatory and therefore the\nAO cannot be expected to seek recourse\nto the same.\nTherefore

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

43 of 131 into consideration. Therefore, the revisional authority can exercise the power under Section 263. In the entire scheme of 153A of the Act, there is no prohibition for the assessing authority to take note of such income. On the contrary, it is expressly provided under Section 153A of the Act the Assessing Officer shall assess or reassess