DCIT, BANGALORE vs. SHRI. SUMIR J HINDUJA, BANGALORE

In the result, appeals filed by the revenue and COs filed by the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2006-07 Shri Jagadish N. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aacph7291Q Appellant Respondent Assessment Year: 2006-07 Shri Sumir J. Hinduja Deputy Commissioner Of Income- No.7 & 12, Industrial Suburb Tax Tumkur Road Vs. Circle 11(3) Yeshwanthpur Bangalore Bangalore 560 022 Pan No.Aaeph5197H Appellant Respondent C.O. No.48/Bang/2013 (Arising Out Of Ita No.1373/Bang/2012) Assessment Year: 2006-07 Shri Jagadish N. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent C.O. No.49/Bang/2013 (Arising Out Of Ita No.1374/Bang/2012) Assessment Year: 2006-07 Shri Sumir J. Hinduja Vs. Dcit, Circl-11(3),Bangalore Appellant Respondent Appellant By : Shri Susan Dolores George, D.R. Respondent By : Shri Ashok A Kulkarni, A.R.

reassessed. To Confer jurisdictionunder section 147(a) two conditions were required to ITA Nos.1373 & 1374/Bang/2012 & CO. Nos.48 & 49/Bang/2013 Shri Jagadish N. Hinduja, Bangalore Page 21 of 78 be satisfied firstly the Assessing Officer must have reason to believe that income profits or gains chargeable to income tax have escaped assessment, and secondly he must also have reason to believe that

M/S NIKE INDIA PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(1)(1), BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

transfer pricing adjustment was made during the course of original assessment proceedings. However, the AO has reopened the assessment of AY 2007-08 on noticing a subsequent decision rendered by Tribunal for another year, wherein T.P adjustment made in respect of identical reimbursement of expenses was upheld by the Tribunal. 5. The assessee objected to the reopening of the assessment

NIKE INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

transfer pricing adjustment was made during the course of original assessment proceedings. However, the AO has reopened the assessment of AY 2007-08 on noticing a subsequent decision rendered by Tribunal for another year, wherein T.P adjustment made in respect of identical reimbursement of expenses was upheld by the Tribunal. 5. The assessee objected to the reopening of the assessment

NIKE INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

transfer pricing adjustment was made during the course of original assessment proceedings. However, the AO has reopened the assessment of AY 2007-08 on noticing a subsequent decision rendered by Tribunal for another year, wherein T.P adjustment made in respect of identical reimbursement of expenses was upheld by the Tribunal. 5. The assessee objected to the reopening of the assessment

M/S.NIKE INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee for AY 2007-08 is allowed and all other appeals of the assessee are treated as partly allowed

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

transfer pricing adjustment was made during the course of original assessment proceedings. However, the AO has reopened the assessment of AY 2007-08 on noticing a subsequent decision rendered by Tribunal for another year, wherein T.P adjustment made in respect of identical reimbursement of expenses was upheld by the Tribunal. 5. The assessee objected to the reopening of the assessment

HEWLETT-PACKARD (INDIA) SOFTWARE OPERATION PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-(1)(1) , BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2014-15

transfer pricing adjustment and thereafter the draft assessment order was issued on 26.12.2017. The company filed a review application before ld. DRP on 25.1.2018 against the draft assessment order. The ld. DRP issued its direction vide an order dated 14.9.2018. The TPO accordingly issued an order giving effect to ld. DRP’s direction. Finally, the assessment proceedings u/s

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

Transfer Pricing Officer-TOP under Section 92CA could be invalid and bad in law. 7. It is for this precise reason, Tribunal has rightly held that order passed by the TPO and. DRP is unsustainable in the eyes of law. The said finding is based on the authoritative principles enunciated by the Hon'ble Supreme Court in Kolhapur Canesugar Works

PRACTO TECHNOLOGIES PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 1(3), BENGALURU, BANGALORE

In the result the appeal of the assessee is allowed

Bench: SHRI WASEEM AHMED (Accountant Member), SHRI KESHAV DUBEY (Judicial Member)

reassessment proceedings under section 147 of the Act are invalid and bad in law. 3. Assessment Order passed by the Learned AO under section 144 rws 147 rws 144C(13) of the Act is barred by limitation under section 153 of the Act 3.1. On the facts and in the circumstances of the case and in law, the Assessment Order

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

u/s 148 for several years to the assessee cannot be equated with recording of combined reasons 148 for several years because, in reply to notice u/s 148, the assessee is required to make compliance within a prescribed time by filing return of income but by recording of reasons for reassessment, the action is to be taken by the AO only

LAXMIPAT DUDHERIA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

u/s 148 for several years to the assessee cannot be equated with recording of combined reasons 148 for several years because, in reply to notice u/s 148, the assessee is required to make compliance within a prescribed time by filing return of income but by recording of reasons for reassessment, the action is to be taken by the AO only

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

u/s 148 for several years to the assessee cannot be equated with recording of combined reasons 148 for several years because, in reply to notice u/s 148, the assessee is required to make compliance within a prescribed time by filing return of income but by recording of reasons for reassessment, the action is to be taken by the AO only

LAXMIPAT DUDHERIA ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result, all the four appeals filed by the assessee are allowed

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

u/s 148 for several years to the assessee cannot be equated with recording of combined reasons 148 for several years because, in reply to notice u/s 148, the assessee is required to make compliance within a prescribed time by filing return of income but by recording of reasons for reassessment, the action is to be taken by the AO only

M/S JINDAL ALUMINIUM LTD.,,BANGALORE vs. DCIT, BANGALORE

In the result, the appeal of the assessee stands dismissed

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boazassessment Year : 2005-06

price. 3. The learned CIT (Appeals) ought to have appreciated that there was no obligation on the part of the Appellant to declare the transaction in the return of income when the transaction did not result in any income/loss and accordingly he ought to have refrained from upholding reopening of the assessment as made by the assessing officer

DINESH KUMAR SINGHI,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE

In the result, the appeal filed by the assessee for A

Bench: Shri Chandra Poojari & Smt. Beena Pillai

147 r.w.s.143(3) of the Act is bad in law, as the appellant had disclosed the material facts fully and truly necessary for assessment and there is no new or fresh information or evidence warranting reopening of the assessment. 8. That the entire reassessment proceedings violates the procedure prescribed by the Supreme Court in 259 1TR 19 for 148 proceedings

DINESH KUMAR SINGHI,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE- 1(1)(2), BANGALORE

In the result, the appeal filed by the assessee for A

Bench: Shri Chandra Poojari & Smt. Beena Pillai

147 r.w.s.143(3) of the Act is bad in law, as the appellant had disclosed the material facts fully and truly necessary for assessment and there is no new or fresh information or evidence warranting reopening of the assessment. 8. That the entire reassessment proceedings violates the procedure prescribed by the Supreme Court in 259 1TR 19 for 148 proceedings

ASST.C.I.T., BANGALORE vs. M/S BMM CEMENTS LIMITED, BANGALORE

In the result, the assessee’s C

Bench: Shri Sunil Kumar Yadav & Shri Jason P Boazthe Asst. Commissioner Of Income-Tax, Central Circle-1(2), Bengaluru. . Appellant Vs. M/S Bmm Cements Ltd., Bengaluru. . Respondent Co No.206/Bang/2015 Appellant By : Shri K.V Aarvind, Standing Counsel Respondent By : Shri K.R Pradeep, Advocate Date Of Hearing : 01-2-2018 Date Of Pronouncement : 10-4-2018 O R D E R

147 of the Act and (ii) deleted the protective addition of Rs.56.40 crores made as unexplained cash credits u/s 68 of the Act. REVENUE’S APPEAL FOR ASST. YEAR 2010-11 3.0 Aggrieved by the order of the CIT(A)-11, Bangalore dated 22/5/2015 for asst. year 2010-11, Revenue has filed this appeal wherein it has raised the following

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

147 is only based on factually incorrect statement recorded u/s 131 which is not corroborated by any evidences. Thus, such factually incorrect statement cannot form a belief of income escaping assessment much less cannot be a sole evidence for assessment. 6.23 Further, he drew our attention to the retracted statement filed before the authorities on 14.2.2018, which reads as follows

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

147 is only based on factually incorrect statement recorded u/s 131 which is not corroborated by any evidences. Thus, such factually incorrect statement cannot form a belief of income escaping assessment much less cannot be a sole evidence for assessment. 6.23 Further, he drew our attention to the retracted statement filed before the authorities on 14.2.2018, which reads as follows

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

147 is only based on factually incorrect statement recorded u/s 131 which is not corroborated by any evidences. Thus, such factually incorrect statement cannot form a belief of income escaping assessment much less cannot be a sole evidence for assessment. 6.23 Further, he drew our attention to the retracted statement filed before the authorities on 14.2.2018, which reads as follows