SYED MAQSOODULLA ,BANGALORE vs. INCOME TAX OFFICER WARD-3(2)(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Chandra Poojari, Am Assessment Year: 2015-16 Syed Maqsoodulla, Vs. The Income Tax Officer, No.14, 7Th “A’ Cross Ward-3(2)(1), Bangalore. ‘D’ Block, Magadi Road Bangalore-560023. [Pan:Cycps 3116F]

221 Taxman 0446 Ashok P. Magajikondi v. ITO wherein it was held that the AO has only considered the peak deposits and has given necessary deduction for deposits made out of prior withdrawal and possible receipt from debtors. Therefore, it was concluded that the findings of the lower authorities is correct and no material has been produced and confirmed

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

SMT. RATHNAMMA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

221 ITR 239 (All) concurred with; Jaqmohan Ram Ram Chandra vs. CIT (2005) 193 CTR (All) 153: (2005) 274 ITR 405 (All) distinguished.” ………………………………………………………………………………………. ITA Nos.468 to 473/Bang/2023 Smt. Rathnamma, Bangalore Page 8 of 10 12.3.1 Thus, the provision u/s 68 of the Income Tax Act, 1961 is well settled that in order to make an addition under this section

M/S BHUWALKA STEEL INDUSTRIES LIMITED ,BANGALORE vs. INCOME TAX OFFICER WARD-1(1)(4), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

221 31,68,36,520 31,68,36,520 Durga Trade Links Bhuwalka Metal Industries 16,59,65,266 16,59,65,266 NIL NKSP Ltd Bharath Infra Exports & 6,74,25,068 6,74,25,068 Imports 40,64,92,084 Total 4. As per the above noted differences, the AO made adjustment to the tune of Rs.40

M/S. BHUWALKA STEEL INDUSTRIES LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(2), BANGALORE

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

Bench: Shri George George K & Shri Laxmi Prasad Sahu

221 31,68,36,520 31,68,36,520 Durga Trade Links Bhuwalka Metal Industries 16,59,65,266 16,59,65,266 NIL NKSP Ltd Bharath Infra Exports & 6,74,25,068 6,74,25,068 Imports 40,64,92,084 Total 4. As per the above noted differences, the AO made adjustment to the tune of Rs.40

JOHN DEVELOPERS ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. 20. We have heard the rival submissions and perused the materials available on record. The lower authorities made the addition by observing as under: As seen from

M/S. PAUL RESORTS & HOTELS PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

M/S. PAUL RESORTS & HOTELS PVT. LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

JOHN DISTILLERIES PVT LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

JOHN DEVELOPERS,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

JOHN DEVELOPERS ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

M/S. PAUL RESORTS & HOTELS PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1(1) , BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

M/S. PAUL RESORTS & HOTELS PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), BANGALORE

In the result, appeals of the assessee in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubey

221) wherein held that loose sheets recovered from the premises of the assessee constitute document within the meaning of explanation under sub-section 4 of section 132 of the Act. We have heard the rival submissions and perused the 20. materials available on record. The lower authorities made the addition by observing as under: As seen from

SLN COFFEE CURING WORKS,KUDLOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 68 cannot be applied and the AO is directed to exclude the same from the addition u/s.68 of the Act after duly verifying the same.” 3.7 The ld AR for the assessee stated that in so far as the amounts advanced by the Firm to the 3 partners are concerned, the year-wise break-up along with

SLN COFFEE CURING WORKS,KUDLOOR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, MYSORE

In the result, the assessee’s appeal is partly allowed for statistical purposes

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 68 cannot be applied and the AO is directed to exclude the same from the addition u/s.68 of the Act after duly verifying the same.” 3.7 The ld AR for the assessee stated that in so far as the amounts advanced by the Firm to the 3 partners are concerned, the year-wise break-up along with