ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1-(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD., BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

section 68 or or 69, in our opinion, have limited application in the case of nonresident.” 6.5 The Hon'ble Delhi High Court vide judgement dated 15-12- 2016 on the similar issue in the case of CIT vs Russian Technology Centre (P) Ltd. (ITA No.547, 549, 555/2013) wherein the Hon'ble High Court affirmed the judgement

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S KANSUR DEVELOPERS INDIA PVT. LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

section 68 or or 69, in our opinion, have limited application in the case of nonresident.” 6.5 The Hon'ble Delhi High Court vide judgement dated 15-12- 2016 on the similar issue in the case of CIT vs Russian Technology Centre (P) Ltd. (ITA No.547, 549, 555/2013) wherein the Hon'ble High Court affirmed the judgement

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(4), BENGALURU vs. M/S SNOWSHINE REALTORS PVT.LTD. , BENGALURU

In the result, the revenue appeals in ITA Nos

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita Nos.1441 & 1442/Bang/2018 Assessment Year: 2009-10 & 2012-13 Acit Central Circle- M/S. Kansur Developers India Pvt. Ltd. 1(4) No.2650, Ground Floor Bengaluru Vs. 37Th B Cross, 28Th Main, 9Th Block Jayanagar Bangalore 560 009 Pan No : Aacck9866F Appellant Respondent C.O. Nos.103&104/Bang/2018 (Arising Out Of Ita Nos.1441 & 1442/Bang/2018) Assessment Years: 2009-10 & 2012-13

section 68 or or 69, in our opinion, have limited application in the case of nonresident.” 6.5 The Hon'ble Delhi High Court vide judgement dated 15-12- 2016 on the similar issue in the case of CIT vs Russian Technology Centre (P) Ltd. (ITA No.547, 549, 555/2013) wherein the Hon'ble High Court affirmed the judgement

SHRI. SHANTHISAGAR CO OP CREDIT SOCIETY LIMITED,HUBLI vs. INCOME TAX OFFICER, WARD-2(1), HUBLI

In the result, the appeal of the assessee is hereby partly allowed for statistical purposes

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2017-18

29 of 32 transactions, and the source of cash were all explained. The mere fact that the money was deposited in the bank account does not make it unexplained, especially when it is backed by verifiable records and cash books. 20.5 Further, reliance placed by the AO on 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." Mr. P. Narasimha Rao, Mangaluru Page 17 of 29 12.3.1 Thus, the provision u/s 68 of the Income

SRI. GIRISH MALLESH,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-6(2)(1), BANGALORE

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

68 of the Act. 3. The ld. CIT(A) observed that the Ld. A.O. has added Rs.25,10,103/- out of the total cash deposit of Rs.42,39,560/- on account that no information was submitted by the assessee before the A.O. The ld. A.O. has given benefit of Rs.17,29,456/- which was shown as cash balance

SRI. GIRISH MALLESH,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-6(2)(1), BANGALORE

In the result, appeal of the assessee in ITA No

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

68 of the Act. 3. The ld. CIT(A) observed that the Ld. A.O. has added Rs.25,10,103/- out of the total cash deposit of Rs.42,39,560/- on account that no information was submitted by the assessee before the A.O. The ld. A.O. has given benefit of Rs.17,29,456/- which was shown as cash balance

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

29 14. As per the above section the notice u/s 148 was issued within the specified time as prescribed in the Act. Therefore, this ground raised by the assessee also fails. 15. Furtherwe have also gone through the statements recorded during the course of survey under ection133A of he Act as well as search under section

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

29 14. As per the above section the notice u/s 148 was issued within the specified time as prescribed in the Act. Therefore, this ground raised by the assessee also fails. 15. Furtherwe have also gone through the statements recorded during the course of survey under ection133A of he Act as well as search under section

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

29 14. As per the above section the notice u/s 148 was issued within the specified time as prescribed in the Act. Therefore, this ground raised by the assessee also fails. 15. Furtherwe have also gone through the statements recorded during the course of survey under ection133A of he Act as well as search under section

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

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

29,48,500 25,90,09,400\n15,64,02,965\n68,45,21,295\nWe have also gone through the statements recorded during the course of\nsearch under section 132(4) of the Act of question and answerNo.22 which is as\nunder :\n22. You\nare hereby given one more opportunity to furnish the books of\naccounts/explanation/sources

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 for Rs.81,00,000/- and assessment was completed on 31/03/2022. 3. Aggrieved from the above order, the assessee filed appeal before the CIT(A) and the CITA) issued various notices on different dates but the assessee did not respond. Accordingly, the CIT(A) decided the 5 of page 24 ITA No.405/Bang/2023 S.P No.29/Bang/2023 issue

M/S. KHODAY INDIA LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 4(1)(2), BANGALORE

In the result appeal filed by assessee stands allowed

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 M/S. Khoday India Ltd., The Income-Tax 7Th Mile, Brewery House, Officer, Kanakapura Road, Ward 4 (1)(2), Bangalore – 560 062. Bangalore. Pan: Aaack6734C Vs. Appellant Respondent Assessee By : Shri V. Sridhar, Ca : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 30-06-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 09/12/2021 Passed By The Ld.Cit(A)-11, Bangalore For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru-11, Bengaluru In Ita No.Cit(A)- 11/Bng/Tr.10036/2018-19 (Din: Itba /Apl /M/ 250 /2021-22/ 1037634908(1) Dated:09.12.2021 Is Opposed To Law, Weight Of Evidence, Probabilities & Facts & Circumstances Of The Case. 2. The Learned Commissioner Of Income-Tax (Appeals) Erred In Confirming The Order Of The Assessing Officer Passed U/S.154 Of The Income Tax Act, 1961 Dated:14.02.2018. 3. The Learned Commissioner Of Income-Tax (Appeals) Erred In Not Directing The Assessing Officer To Set Off The Entire

29,72,80,000/- shown as advance received during the year from L.K.Trust was therefore, brought to tax as unexplained credit 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

68 oif the Act. In respect of interest payments, there was no evidence produced by the assessee which could be considered in terms of section 37(1) of the Act and assessee has not deducted TDS on such interest payment. Assessee was also unable to establish the nature of business carried out by her. From computation of income

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

29,48,500\n25,90,09,400\n15,64,02,965\n68,45,21,295\n\nWe have also gone through the statements recorded during the course of\nsearch under section 132(4) of the Act of question and answerNo.22 which is as\nunder :\n\n22. You are hereby given one more opportunity to furnish the books of\naccounts/explanation/sources

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

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

section 68 of the Act applies in respect of sum found credited in the books of accounts of the assessee maintained for any previous year relevant to the assessment year. Thus, the assessee is required to prove the entries of amounts credited in the books of accounts of the assessee in the relevant assessment year. The rough cash book

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

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

section 68 of the Act applies in respect of sum found credited in the books of accounts of the assessee maintained for any previous year relevant to the assessment year. Thus, the assessee is required to prove the entries of amounts credited in the books of accounts of the assessee in the relevant assessment year. The rough cash book