M/S. KARNATAKA POWER CORPORATION LIMITED,BENGALURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 11(5) PRESENTLY CIRCLE 4(1)(1), BENGALURU

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

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

80A(2) and section 80B(5) and also as per the decision of the Hon’ble Supreme Court in the case of Synco Industries Ltd. v. AO & Other (reported in 299 ITR 444), it is seen that the deduction under Chapter VIA has to be given out of the gross total income calculated as per the provisions of Income

UNITED BREWERIES LTD,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE-7(1)(1), BENGALURU

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

80A; (iii) any transfer of goods or services referred to in sub-section (8) of section 80-IA; (iv)any business transacted between the assessee and other person as referred to in sub-section (10) of section 80-IA; IT(TP)A No.2569/Bang/2017 Page 28 of 84 (v) any transaction, referred to in any other section under Chapter

M/S FLIPKART INDIA PRIVATE LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, appeal by the Assessee is allowed and the appeal by the Revenue is dismissed

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

1,02,40,546. The action of the revenue authorities was not accepted by the tribunal and the Hon’ble High court. On further appeal by the revenue the Hon’ble Supreme Court held that the authorities under the Act have come to the conclusion that the transaction between the assessee and its subsidiary company was a bona fide transaction

M/S GRAIN MERCHANT SOCIETY,TUMKUR vs. INCOME TAX OFFICER, WARD.2, TUMKUR

In the result, the assessee's appeal for Assessment Year 2008-09 is allowed

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

reassessment was completed under Section 143(3) rws 147 of the Act vide order dt.10.2.2014, wherein the income of the assessee was determined at Rs.14,45,866 by disallowing the assessee's claim for deduction under Section 80P(2)(a)(i) of the Act. 2.3 Aggrieved by the order of assessment for Assessment Year 2008-09 dt.10.2.2014, the assessee preferred