DR. P. DAYANANDA PAI,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 2(2), BANGALORE
In the result, appeal of the Assessee is partly allowed for statistical purpose
ITA 150/BANG/2020[2005-06]Status: DisposedITAT Bangalore26 Jul 2022AY 2005-06
Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year :2005-06 Dr. P Dayananda Pai, Vs. Dcit, 10/1, Lakshminarayana Complex, Circle – 2(2), Palace Road, Bengaluru. Bengaluru – 560 052. Pan : Abapp 4418 Q Appellant Respondent Assessee By : Shri. R. Ramakrishnan, Ca Revenue By : Smt. Susan Dolores George, Cit(Osd)(Itat), Bengaluru. Date Of Hearing : 19.07.2022 Date Of Pronouncement : 26.07.2022 O R D E R Per N. V. Vasudevan: This Is An Appeal By The Assessee Against The Order Dated 9.12.2019 Of Cit(A)-11, Bengaluru, Relating To Ay 2005-06. 2. The Assessee Is An Individual. He Is Also Referred To As “Pdp” In This Order. He Is In The Business Of Real Estate For Over Four Decades. He Carried On Business Of Real Estate In His Individual Capacity. From Ay 95-96 He Transferred All The Rights In Properties Under Various Agreements To A Partnership Firm “M/S.P.Dayanand Pai”, Vide Deed Of Partnership Dated 1-4-1994. In This Firm Mr.P.Dayanand Pai & His Brother Mr.P.Satish & 9 Other Individuals Were Partners. Thereafter By A Deed Of Partnership Dated 9.6.2000 The Firm “M/S.P.Dayanada Pai” Merged Its Business With Another Partnership Firm “M/S.Canara Housing Development Company” (Hereinafter Page 2 Of 39
For Appellant: Shri. R. Ramakrishnan, CAFor Respondent: Smt. Susan Dolores George, CIT(OSD)(ITAT), Bengaluru
Section 10Section 132Section 139Section 143(3)Section 147Section 148Section 149Section 151Section 153Section 153A
68,42,500/- had escaped assessment. Therefore.
the AO issued notice u/s 148 on 07/03/2013 . The AO furnished a copy of reasons for re-opening to the appellant on 31/01/2013. Thereafter, the AO passed a speaking order dated 08/03/2013 wherein appellant's objections were considered and rebutted
13. In view of the above facts, the appellant's contentions raised
