VEERENDRA KUMAR PATIL,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

131 of the Act was repeated by the assessee and in\nsearch proceedings, the name of the assessee and amount is there. That is why\nthe AO had reason to believe that there was escapement of income. Therefore,\ninitiation of proceedings under sections 147/148 of the Act is in accordance with\nlaw. Further, in respect of merits

VEERENDRA KUMAR PATIL,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, appeals filed by the assessee are partly allowed in above\nterms

68, as the assessee had not maintained books of account. The additions made towards interest payment also failed on similar grounds.", "result": "Partly Allowed", "sections": [ "148", "147", "133A", "132(4)", "153C", "133(6)", "234A", "234B", "139", "143(1)", "143(3)", "142(1)", "144", "131

TABESCO HINDUSTAN INFRA DEVELOPERS PVT LTD., ,KERALA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , MANGALORE

In the result, appeals of the assessee in ITA Nos

68", "Section 132(4)", "Section 153C", "Section 148", "Section 143(3)", "Section 132", "Section 131

SMT. NISHITA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

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

section 131 of the Act. During the course of survey, question and answer No.40 is as under: 40.It is seen from the table submitted by you in the above answer, that the cash deposited in to different accouni is totalling to Rs. 68

SMT. NISHITA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

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

section 131 of the Act. During the course of survey, question and answer No.40 is as under: 40.It is seen from the table submitted by you in the above answer, that the cash deposited in to different accouni is totalling to Rs. 68

SMT. NISHITA NANDISH ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly allowed

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

section 131 of the Act. During the course of survey, question and answer No.40 is as under: 40.It is seen from the table submitted by you in the above answer, that the cash deposited in to different accouni is totalling to Rs. 68

ACIT, BANGALORE vs. SRI. T.G. RANGANATH, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

section 68 of the Act, only the credit emerged in assessment year under consideration could be questioned u/s 68 of the Act and not the opening balance. Being so, the ld. A.O has to verify this transaction as to which assessment year it relates and decide accordingly. This ground of appeal is partly allowed for statistical purposes. 30. Next

T.G. RANGANATH,BANGALORE vs. ACIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

section 68 of the Act, only the credit emerged in assessment year under consideration could be questioned u/s 68 of the Act and not the opening balance. Being so, the ld. A.O has to verify this transaction as to which assessment year it relates and decide accordingly. This ground of appeal is partly allowed for statistical purposes. 30. Next

T.G. RANGANATH,BANGALORE vs. DCIT, BANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2008-09

section 68 of the Act, only the credit emerged in assessment year under consideration could be questioned u/s 68 of the Act and not the opening balance. Being so, the ld. A.O has to verify this transaction as to which assessment year it relates and decide accordingly. This ground of appeal is partly allowed for statistical purposes. 30. Next

N 9 SPORTS & LEISURE HOLDINGS PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly\nallowed

68. The addition for interest payment under Section 37 also failed as the reopening itself was not sustainable.", "result": "Partly Allowed", "sections": [ "131

MKH INFRASTRUCTURE,KERALA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

68", "Section 132(4)", "Section 153C", "Section 148", "Section 143(2)", "Section 142(1)", "Section 131

BHARATH HI-TECH BUILDERS PVT. LTD.,BANGALORE vs. ACIT, CIRCLE-1(1)(2), BANGALORE, BANGALORE

In the result, appeal of the assessee is allowed

section 68 of the Act\nwhich is only applicable in respect of share application money,\nshare capital, share premium or any such amount by\nwhatever name called and is not applicable to ordinary loans\nand in reproduction of the proviso in para 4.4, Ld. AO has\nconveniently and intendedly ignored the phrase \"share\n\nPage 6 of 29\nITA

M/S. CRYSTAL GRANITE AND MARBLE PRIVATE LIMITED,RAMANAGARAM vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(1)(1), BANGALORE

In the result, the appeal of the assessee is allowed for statistical purposes and Stay Petition is dismissed as infructuous

Bench: Shri George George K & Shri Laxmi Prasad Sahus.P No.29/Bang/2023 Assessment Year: 2017-18

68 of the Act and it also furnished the details of receipt and repayment of the advance amount and had established identity of the third party in relation to the said amount. j. Reliance is placed on the following. (i) Bharatbhai Manubhai Baldha[2023] 150 taxmann.com 66 (Surat-Trib.) “if assessment is being completed on the basis of search, there

KOGOD BASAVARAJU JAYACHANDRA ,HASSAN vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result the ITA No

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

68. Cash credits. - Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer

HUNGRY AND FOOLISH INTELLECTUAL PROPERTIES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result, the appeal of the assessee for AY 2013-14 is partly\nallowed

68 was not sustainable as the assessee had not maintained books of account. It also deleted the addition for interest payment under Section 37, finding the reopening of the case unsustainable.", "result": "Partly Allowed", "sections": [ "131

MR. BHASKAR JOSEPH,BANGALORE vs. INCOME TAX OFFICER, WARD- 6(2)(2), BANGALORE

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Chandra Poojariassessment Year: 2015-16

Section 68 (In CIT, Poona v. Bhaichand H. Gandhi 141 ITR 67 (Born.) but the additions of Rs.41,35,000-00 were made based on cash credit entries in my bank account and not my books of accounts. And hence the additions made are not correct in view of the law. And the Assessing Office would have used

THE HAMLET,BANGALORE vs. THE INCOME-TAX OFFICER-WARD-6(2)(4), BANGALORE

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2012-13 M/S. The Hamlet, No. 11, Kemwell House, The Income Tax Tumkur Road, Officer, Yeshwanthpur, Ward – 6(2)(4), Bangalore – 560 022. Bangalore. Vs. Pan: Aaaft6690D Appellant Respondent Assessee By : Shri H.N. Kincha, Ca : Shri D.K. Mishra, Cit - Revenue By Dr Date Of Hearing : 24-08-2023 Date Of Pronouncement : 16-11-2023 Order Per Beena Pillaipresent Appeal Arises Out Of The Order Dated 27.12.2022 Passed By The Nfac, Delhi For A.Y. 2012-13 On Following Grounds Of Appeal: “1. The Learned Commissioner Of Income Tax (Appeals) Has Erred In Passing The Appellate Order In The Manner Passed. The Appellate Order As Passed Is Bad In Law & Is Liable To Be Quashed. 2. In Any Case, The Learned Commissioner Of Income Tax (Appeals) Has Erred In Confirming The Assessment Order Passed By The Learned Assessing Officer. On The Facts & Circumstances Of The Case, The Learned Commissioner Of Income Tax (Appeals) Should Have Quashed, The Order Passed By Assessing Officer Or Atleast Should Have Deleted The Additions Made By The Assessing Officer.

Section 68 of the Act provides that where any sum is found credited in the books of the appellant maintained for any previous year and the appellant offers no explanation about the nature and source thereof or the explanation offered by him is not in the opinion of the AO satisfactory, the sum so credited may be charged

M/S. H & F GAMES PVT. LTD.,BELLANDUR vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE - 1(2), BENGALURU, BENGALURU

In the result, the appeal of the assessee for AY 2013-14 & AY 2014-15

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

131 of the Act, Mr. Nandish he agreed for offer additional income towards unexplained cash deposits. Accordingly, the AO made addition u/s. 68 of the Act. Further the AO noted from the financial statements submitted by the Director during the scrutiny proceedings that the assessee has sundry creditors in the balance sheet and assessee has paid interest on such creditors

M/S. H & F GAMES PVT. LTD.,BELLANDUR, MARATHAHALLI, BENGALURU. vs. DEPUTY COMMISSIONER OF INCOME TAX - CENTRAL CIRCLE - 1(2), BENGALURU, BENGALURU

In the result, the appeal of the assessee for AY 2013-14 & AY 2014-15

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubey

131 of the Act, Mr. Nandish he agreed for offer additional income towards unexplained cash deposits. Accordingly, the AO made addition u/s. 68 of the Act. Further the AO noted from the financial statements submitted by the Director during the scrutiny proceedings that the assessee has sundry creditors in the balance sheet and assessee has paid interest on such creditors