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6 results for “section 68”+ Section 271Eclear

Sorted by relevance

Jaipur39Mumbai26Delhi26Karnataka21Chennai21Hyderabad16Ahmedabad15Indore12Pune11Kolkata9Agra8Surat7Bangalore6Rajkot4Ranchi3Jabalpur2Nagpur2Cuttack2Visakhapatnam1Cochin1Amritsar1SC1

Key Topics

Section 271D22Section 269S9Section 271E8Section 269T6Penalty6Section 2694Section 271D(2)4Addition to Income4Section 2633Section 143(3)

KARNATAKA AGROCHEMICAL PVT LTD ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX RANGE-4(1), BANGALORE

In the result, the appeal by the assessee is allowed

ITA 98/BANG/2022[2013-14]Status: DisposedITAT Bangalore29 Apr 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

For Appellant: Shri SreeHariKutsa, AdvocateFor Respondent: Shri Priyadarshi Mishra, Jt.CIT(DR)(ITAT), Bengaluru
Section 250Section 269TSection 271E

271E on the facts and circumstances of the case. 25. On the other hand, the ld. DR submitted that the assessee has received the impugned loans in cash and repaid them in cash. The assessee has not given any specific reason or cause leading to commercial expediency of the transactions in cash. The credit balance of the concerned director

SRI.YARABOLU SESHADRI REDDY,BANGALORE vs. JOINT COMMISSIONER OF INCOME-TAX, BANGALORE

3

In the result, the appeals of assessee are allowed

ITA 1525/BANG/2016[2005-06]Status: DisposedITAT Bangalore28 Apr 2017AY 2005-06

Bench: Shri Vijay Pal Rao

For Appellant: Shri V. Narendra Sharma, AdvocateFor Respondent: Shri AR.V.Sreenivasan, JCIT (D.R)
Section 144Section 269Section 271DSection 274Section 68

68 of the Act. Subsequently, the Assessing Officer initiating the proceedings under Section 271D by issuing a notice under Section 274 of the Act on 25.9.2014 in respect of accepting the loan amount of Rs.2,00,500 cash from Mr. Y. Venkatarami Reddy, father of assessee. The assessee vide his reply dt.13.10.2014 contended that provisions of Section

AKASH EDUCATION & DEVELOPMENT TRUST,BENGALURU vs. ADDITIONAL COMMISSIONER OF INCOME TAX, CENTRAL RANGE-2, BANGALORE

In the result, the appeal of the assessee is allowed

ITA 737/BANG/2021[2016-17]Status: DisposedITAT Bangalore18 Apr 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Shri Rajeev Nulvi, ARFor Respondent: Shri Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 269SSection 271DSection 271D(2)Section 273B

271E of the Act, as the case may be. Reverting to the present case, the counsel for the assessee submitted that since the Revenue has accepted the transaction as genuine, there was no involvement of black money and consequently, this is not a fit case where penalty under s. 271D may be imposed. In support of this submission, reliance

JICE ACADEMY FOR EXCELLENCE PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER, NFAC, DELHI

In the result, the appeal of the assessee is allowed

ITA 704/BANG/2022[2017-18]Status: DisposedITAT Bangalore19 Sept 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18

For Appellant: Shri Rajeev Nulvi, A.RFor Respondent: Shri K. Sankar Ganesh, D.R
Section 143(3)Section 269SSection 271DSection 273B

68 TTJ (Hyd) 373 : (2000) 73 ITD 252 (Hyd), wherein it was held in para 17 of its order, as follows :- 'Provisions of S.269SS were brought in the statute book to counter the evasion of tax in certain cases, as clearly stated in the heading of Chapter XX-B of the IT Act, 1961 which reads "requirement as to mode

SHRI MANOJ BHAWARLAL DHOOT ,BAGALKOT vs. JOINT COMMISSIONER OF INCOME TAX VIJAPURA RANGE , VIJAPURA

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

ITA 232/BANG/2018[2012-13]Status: DisposedITAT Bangalore23 May 2018AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Inturi Rama Rao

For Appellant: Shri Gokul L. Malpani, C AFor Respondent: Dr. Sandeep Goel, Addl.CIT (D.R)
Section 143(3)Section 269TSection 271E

271E of the Act as there was no reasonable cause for repaying the loan in cash vie order dt.20.10.2016. Being aggrieved, the assessee preferred appeal before the learned CIT (Appeals) who by the impugned order also confirmed the order of the Assessing Officer on the ground that the assessee had failed to explain and prove the business exigency in repaying

MFAR HOLDINGS PVT. LIMITED,BANGALORE vs. PR. CIT, BANGALORE

In the result, appeal of the assessee is dismissed

ITA 634/BANG/2015[2010-11]Status: DisposedITAT Bangalore14 Aug 2015AY 2010-11

Bench: Shri. N. V. Vasudevan & Shri. Abraham P. George

For Appellant: Shri. Cherian K Baby, CAFor Respondent: Shri. Sunil Kumar Agarwala, JCIT
Section 143(3)Section 14ASection 263Section 269Section 271DSection 45(2)

271E of the Act, Ld. AR submitted that such penalty proceedings were initiated by Addl. CIT. As per the Ld. AR, CIT was not correct in stating that no penalty proceedings were initiated. Relying on a penalty order u/s.271E of the Act, dt.29.12.2014, Ld. AR submitted that Addl. CIT had levied penalty u/s.271E of ITA.634/Bang/2015 Page - 6 the Act. Thus