DEPUTY COMMISSIONER OF INCOME TAX (INTL TAXN) CIRCLE-1(1), BANGALORE vs. M/S COFFEEDAY ENTERPRISES LIMITED , BANGALORE

In the result, the appeal of the Revenue is dismissed and the Cross Objection of the assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

55A shall be deleted.” (iii) Letter dated 17.01.2018 from M/s. Arduino Holdings Ltd. stating that the interest is waived. C.O. No. 42/Bang/2019 (iv) Letter dated 25.06.2018 filed by Shri V.G. Siddhartha before DCIT, Central Circle, with respect to the declaration on statement recorded during the course of search and seizure. 7.4 The Ld. DR submitted that the above mentioned details

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU vs. HIREHAL JAIRAJ BALRAM, BENGALURU

In the result, appeal filed by the assessee is allowed for statistical\npurposes

u/s 50C of the Income Tax Act\n1961 had resulted in subjecting a “hypothetical income”\nto tax which is not permissible under law and which\nmandates at only the “real income” can be subjected to\ntaxation under the Income Tax Act 1961.\n4.2.3 In support of our above submission the appellant rely upon\nthe following decisions and the ratios