ACIT, CIRCLE 2(2)(1), BANGALORE vs. VASTIMAL BHIM RAJ SANCHETI, BANGALORE

In the result, the appeals of the Revenue are dismissed\nPronounced in the open court on the date mentioned on the caption\npage

68. Assessee has to establish identity and\ncreditworthiness of the creditor as well as the genuineness of\nthe transaction. All the three ingredients are cumulative and\nnot exclusive.\n(vi) In matters regarding cash credit the onus of proof is not\na static one. As per the provisions of the section the initial\nburden of proof lies

ACIT, CIRCLE-2(2)(1), BANGALORE vs. VASTIMAL BHIM RAJ SANCHETI, BANGALORE

In the result, the appeals of the Revenue are dismissed

Bench: Shri Laxmi Prasad Sahu & Shri Soundararajan K

68. Assessee has to establish identity and ITA Nos.440, 441/Bang/2024 Page 12 of 22 creditworthiness of the creditor as well as the genuineness of the transaction. All the three ingredients are cumulative and not exclusive. (vi) In matters regarding cash credit the onus of proof is not a static one. As per the provisions of the section the initial

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

section 153C is a machinery\nprovision, which has been inserted with the purpose of carrying out the\nassessment of persons other than the searched person under section 132 of\nthe Act, 1961. Even, in the impugned judgment and order, the High Court\nhas, at paragraph 19.4 recorded that section 153C of the Act is a machinery\nprovision

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

section 153C is a machinery\nprovision, which has been inserted with the purpose of carrying out the\nassessment of persons other than the searched person under section 132 of\nthe Act, 1961. Even, in the impugned judgment and order, the High Court\nhas, at paragraph 19.4 recorded that section 153C of the Act is a machinery\nprovision

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

section 153C is a machinery\nprovision, which has been inserted with the purpose of carrying out the\nassessment of persons other than the searched person under section 132 of\nthe Act, 1961. Even, in the impugned judgment and order, the High Court\nhas, at paragraph 19.4 recorded that section 153C of the Act is a machinery\nprovision

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

151" ], "issues": "Whether the reassessment proceedings initiated under Section 147/148 were valid, and whether additions made under Section 68

VEERENDRA KUMAR PATIL,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME, 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 151 of the Act." 9. The AO has also communicated copy of the reasons recorded with proper DIN to the assessee which is clear from the remand report submitted by the AO. The AO has made addition u/s. 68

M/S. GITA REFRACTORIES PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 11(2), BANGALORE

In the result, the second question is answered in favour of the assessee and against the revenue and as a result thereof the appeal fails and dismissed as such

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2005-06

68,450/- without appreciating the submission made by the Appellant 6. Without prejudice the addition is excessive arbitrary and excessive and ought to be reduced substantially. 7. The learned CIT(A) erred in upholding the interest under sec 234B and 234D of the Act 8. For these and such other grounds that may be urged at the time of hearing

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

151 of the Act.\n\n9. The AO has also communicated copy of the reasons recorded with proper\nDIN to the assessee which is clear from the remand report submitted by the\nAO. The AO has made addition u/s.68 of the Act. for want of explanation\nin terms of section_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 151 of the Act." 9. The AO has also communicated copy of the reasons recorded with proper DIN to the assessee which is clear from the remand report submitted by the AO. The AO has made addition u/s. 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 151 of the Act." 9. The AO has also communicated copy of the reasons recorded with proper DIN to the assessee which is clear from the remand report submitted by the AO. The AO has made addition u/s. 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 151 of the Act." 9. The AO has also communicated copy of the reasons recorded with proper DIN to the assessee which is clear from the remand report submitted by the AO. The AO has made addition u/s. 68

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

section 151 of the Act." 9. The AO has also communicated copy of the reasons recorded with proper DIN to the assessee which is clear from the remand report submitted by the AO. The AO has made addition u/s. 68

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", "37", "147", "148", "151", "153C", "133A", "143(3)", "143(1)", "2(40)" ], "issues": "Whether additions under Section 68

MR. P. NARASIMHA RAO,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1(1) & TPS, MANGALURU

In the result, the assessee’s appeal is partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2012 – 13

section 68. The addition could not be made.” Mr. P. Narasimha Rao, Mangaluru Page 25 of 29 21.2 In view of this, we delete the above addition made by the AO. 22. Next ground of the assessee’s appeal is reproduced below: “5. The learned CIT(A), National Faceless Appeal Centre (NFAC) is not justified in law in upholding

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", "37", "147", "148", "151", "153C", "133A", "143(1)", "143(3)" ], "issues": "1. Whether the addition under Section 68

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

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

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahu

151 of the Act has been granted by the PCIT as such approval was communicated to the AO by ACIT (H.Qrs.) as per letter dated 24-03-2016 and such approval is not under the self-signature of PCIT. Also, there is complete absence of recorded satisfaction by the PCIT himself under his own signatures which fact is apparent from

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