M/S VVD CONSTRUCTIONS PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

147 dtd: 08.11.2017 of the Act without issue of mandatory notice u/s. 143(2) of the Act as a result of which the Assessment is liable to be annulled since the assessment is non est in law.” 65. Further, the assessee has also filed the following additional grounds:- “1. The Notice u/s. 148 stated to have been issued

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

147 dtd: 08.11.2017 of the Act without issue of mandatory notice u/s. 143(2) of the Act as a result of which the Assessment is liable to be annulled since the assessment is non est in law.” 65. Further, the assessee has also filed the following additional grounds:- “1. The Notice u/s. 148 stated to have been issued

M/S VVD CONSTRUCTIONS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, ITA No.3384/Bang/2018 is allowed, while ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

147 dtd: 08.11.2017 of the Act without issue of mandatory notice u/s. 143(2) of the Act as a result of which the Assessment is liable to be annulled since the assessment is non est in law.” 65. Further, the assessee has also filed the following additional grounds:- “1. The Notice u/s. 148 stated to have been issued

TEXO THE BUILDERS ,UDUPI vs. ACIT, CENTRAL CIRCLE-2, MANGALORE

In the result, we dismiss grounds raised by the assessee

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

reassessment proceedings u/s 147 of the Act and notice u/s 148 was issued on 07.02.2020. 1.3. Subsequently the assessment proceedings was completed on 26.09.2021 with the assessed income of Rs. 40,53,080/- and a demand of Rs. 24,73,105/-. The break-up of the same is as under. Particulars Amount Total Income as per Return of Income

MANIPAL EDUCATION AND MEDICAL GROUP INDIA PVT. LTD,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

u/s. 14A of the Act. The ld. AO in para 3.1 straight away stated that, “During the financial year relevant to this assessment year, the assessee company has made investments in mutual funds and equity investments in Indian companies, the income from which is not chargeable to tax. The asse was given an opportunity to explain why disallowance of Rs.97

MANIPAL GLOBAL EDUCATION SERVICES PVT LTD., ,BANGALORE vs. ACIT, CENTRAL CIRCLE-2(2), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

u/s. 14A of the Act. The ld. AO in para 3.1 straight away stated that, “During the financial year relevant to this assessment year, the assessee company has made investments in mutual funds and equity investments in Indian companies, the income from which is not chargeable to tax. The asse was given an opportunity to explain why disallowance of Rs.97

MANIPAL HOSPITALS PVT. LTD (FORMERLY KNOWN AS COLUMBIA ASIA HOSPITALS PVT. LTD),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

u/s. 14A of the Act. The ld. AO in para 3.1 straight away stated that, “During the financial year relevant to this assessment year, the assessee company has made investments in mutual funds and equity investments in Indian companies, the income from which is not chargeable to tax. The asse was given an opportunity to explain why disallowance of Rs.97

MANIPAL EDUCATION AND MEDICAL GROUP INDIA PVT. LTD.,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

u/s. 14A of the Act. The ld. AO in para 3.1 straight away stated that, “During the financial year relevant to this assessment year, the assessee company has made investments in mutual funds and equity investments in Indian companies, the income from which is not chargeable to tax. The asse was given an opportunity to explain why disallowance of Rs.97

MANIPAL EDUCATION AND MEDICAL GROUP INDIA PVT. LTD. ,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

u/s. 14A of the Act. The ld. AO in para 3.1 straight away stated that, “During the financial year relevant to this assessment year, the assessee company has made investments in mutual funds and equity investments in Indian companies, the income from which is not chargeable to tax. The asse was given an opportunity to explain why disallowance of Rs.97

M/S. PLAZA AGENCIES PVT LTD., ,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1) , BENGALURU

In the result, the appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year : 2018-19

disallowing Rs. 1,32,40,428/- u/s. 14A r.w. Rule 8D under the facts & circumstances 9. We have heard the rival submissions and perused the material on record. 10. The ground nos. 1 and 4 are general in nature and do not require any adjudication. 11. During the course of hearing, the Ld.AR of the assessee has not pressed ground

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. COFFEE DAY ENTERPRISES LIMITED, BANGALORE

In the result, all the COs by assessee in CO

Bench: Shri Chandra Poojari & Smt. Beena Pillai

disallowance u/s 14A of the Income Tax Act, 1961 (in short “The Act”) read with Rule 8D of the Income Tax Rules. 3. Facts of the case are that on 21 .09.2017, a search action u/s. 132 of the Act was conducted in the case of M/S. Coffee Day Enterprises Ltd. at No. 23/2, Coffee Day Square, Vital Mallya Road

DEPUTY COMMISSIONER OF INCOME-TAX, , BENGALURU vs. COFFEE DAY ENTERPRISES LIMITED, BENGALURU

In the result, all the COs by assessee in CO

Bench: Shri Chandra Poojari & Smt. Beena Pillai

disallowance u/s 14A of the Income Tax Act, 1961 (in short “The Act”) read with Rule 8D of the Income Tax Rules. 3. Facts of the case are that on 21 .09.2017, a search action u/s. 132 of the Act was conducted in the case of M/S. Coffee Day Enterprises Ltd. at No. 23/2, Coffee Day Square, Vital Mallya Road

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. COFFEE DAY GLOBAL LIMITED, BENGALURU

In the result, all the COs by assessee in CO

Bench: Shri Chandra Poojari & Smt. Beena Pillai

disallowance u/s 14A of the Income Tax Act, 1961 (in short “The Act”) read with Rule 8D of the Income Tax Rules. 3. Facts of the case are that on 21 .09.2017, a search action u/s. 132 of the Act was conducted in the case of M/S. Coffee Day Enterprises Ltd. at No. 23/2, Coffee Day Square, Vital Mallya Road

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BANGALORE vs. COFFEE DAY ENTERPRISES, BENGALURU

In the result, all the COs by assessee in CO

Bench: Shri Chandra Poojari & Smt. Beena Pillai

disallowance u/s 14A of the Income Tax Act, 1961 (in short “The Act”) read with Rule 8D of the Income Tax Rules. 3. Facts of the case are that on 21 .09.2017, a search action u/s. 132 of the Act was conducted in the case of M/S. Coffee Day Enterprises Ltd. at No. 23/2, Coffee Day Square, Vital Mallya Road

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

reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise .increasing the liability of the assessee under section 154 for any assessment year beginning on or before the 1st day of April, 2001. 6.2.4 Accordingly, it was proposed to the assessee that the disallowance u/s

LOKESH TALANKI ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(3)(1), BANGALORE

In the result, appeals of the assessee are allowed

Bench: Shri Beena Pillai & Ms. Padmavathy Sassessment Year : 2013-14

disallowing the claim u/s. 54F and recomputed the income of the assessee at Rs. 2,50,88,284. Aggrieved Page 4 of 23 the assessee filed an appeal before the CIT (A) challenging the re- opening of assessment and also the re-computation of capital gains. The CIT(A) held that the re-opening is valid and also confirmed

SHRI.J M VRUSHABENDRAIAH ,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

The appeal of the assessee is partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

disallowing the purchase expenses claimed by the Assessee u/s 37 r.w.s. 40A(3) of the Act. e. The Assessee wishes to submit that the reasons recorded by the learned AO are merely reasons to suspect and there is no belief that the income has escaped assessment. It is submitted that the provisions of section 147 of the Act require that

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), MANGALORE vs. KARNATAKA BANK LIMITED., MANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes and the revenue’s appeal is dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K., Judciial Member Assessment Year : 2015-16

disallowance made by the assessee u/s. 14A on the premise that there is no any incurred expend are incurred by the assessee towards earning exempt income. The assessee’s own fund is more than the investments made and there is decrease in quantum of investments during the year by Rs.59.36 crores and the increase in the internal fund