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

292 Taxman 69 (SC) the statements recorded are correct that there is no books of accounts maintained by the assessee either directly or by Shri D.S. Nandish. the AO has made addition under section 68

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

292 Taxman 69 (SC) the statements recorded are correct that there is no\nbooks of accounts maintained by the assessee either directly or by Shri D.S.\nNandish. the AO has made addition under section 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

292 Taxman 69 (SC) the statements recorded are correct that there is no books of accounts maintained by the assessee either directly or by Shri D.S. Nandish. the AO has made addition under 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

292 Taxman 69 (SC) the statements recorded are correct that there is no books of accounts maintained by the assessee either directly or by Shri D.S. Nandish for the assessee. the AO has made addition under 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

292 Taxman 69 (SC) the statements recorded are correct that there is no books of accounts maintained by the assessee either directly or by Shri D.S. Nandish for the assessee. the AO has made addition under 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

292 Taxman 69 (SC) the statements recorded are correct that there is no books of accounts maintained by the assessee either directly or by Shri D.S. Nandish for the assessee. the AO has made addition under section 68

TABESCO HINDUSTAN INFRA DEVELOPERS PVT LTD., ,KERALA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , MANGALORE

In the result, appeals of the assessee in ITA Nos

68 in the hands of the\nassessee firm by merely relying on the sworn statements of the\npartner Mr. Mohammed Ibrahim which are not binding on the\nassessee. The learned AO ought to corroborate the admission\ncontained in the statement, if any, with independent evidence. If\nAO was not satisfied with the particulars, it would have issued\nsummons

MKH INFRASTRUCTURE,KERALA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

68 in the hands of the\nassessee firm by merely relying on the sworn statements of the\npartner Mr. Mohammed Ibrahim which are not binding on the\nassessee. The learned AO ought to corroborate the admission\ncontained in the statement, if any, with independent evidence. If\nAO was not satisfied with the particulars, it would have issued\nsummons

KOGOD BASAVARAJU JAYACHANDRA ,HASSAN vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BANGALORE

In the result the ITA No

292 Taxman 69 (SC) the statements\nrecorded are correct that there is no books of accounts maintained by the assessee\neither directly or by Shri D.S. Nandish. the AO has made addition under section\n68 of the Act. For the sake of convenience, we are reproducing section 68

MKH INFRASTRUCTURE,KERALA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

Section 143(2) of the Act on the pretext of the statements of the Directors of the respondent-assessee companies recorded under Section 132(4) of the Act and material seized from the search conducted on Jain group of companies. The assessment order was also passed under Section 143(3) read with Section 153C

M/S. EMIRATES HINDUSTAN BUILDERS AND DEVELOPERS,KERALA vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, MANGALORE

In the result, appeals of the assessee in ITA Nos

Bench: Shri Chandra Poojari & Shri Keshav Dubey

Section 143(2) of the Act on the pretext of the statements of the Directors of the respondent-assessee companies recorded under Section 132(4) of the Act and material seized from the search conducted on Jain group of companies. The assessment order was also passed under Section 143(3) read with Section 153C

INTACT DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(2), BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

68,161/- ii) With regard to Shri Chota Hari, as the party was not traceable, the year-wise expenditure were added back to total income as under- A.Y. Contract charges as per ledger 2015-16 7,05,000/- 2016-17 26,36,554/- 2017-18 4,29,759/- 2018-19 99,000/- ITA Nos.823 to 824/Bang/2025 Intact Developers

INTACT DEVELOPERS PRIVATE LIMITED ,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(2), BANGALORE

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

68,161/- ii) With regard to Shri Chota Hari, as the party was not traceable, the year-wise expenditure were added back to total income as under- A.Y. Contract charges as per ledger 2015-16 7,05,000/- 2016-17 26,36,554/- 2017-18 4,29,759/- 2018-19 99,000/- ITA Nos.823 to 824/Bang/2025 Intact Developers

INTACT DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(2), BANGALORE

Accordingly, the appeals of the assessee for the AY 2015-16\nto AY 2017-18 are allowed

68,161/-\nii) With regard to Shri Chota Hari, as the party was not traceable,\nthe year-wise expenditure were added back to total income as\nunder-\nΑ.Υ.\n2015-16\n2016-17\n2017-18\n2018-19\nContract charges as per ledger\n7,05,000/-\n26,36,554/-\n4,29,759/-\n99,000/-\niii) Finally the labour contractor Narashimha, submitted

MR. SHIVAKUMAR MAHADEVAIAH ,MYSORE vs. INCOME-TAX OFFICER, WARD-2(3), MYSORE

In the result, the appeal of the revenue is dismissed

Bench: Shri Chandra Poojari (Accountant Member), Shri Keshav Dubey (Judicial Member)

68 of the Act. Aggrieved by the order of the AO the assessee preferred an appeal before the learned the order of the AO the assessee preferred an appeal before the learned the order of the AO the assessee preferred an appeal before the learned CIT(A), Mysore. However, the case was dismissed CIT(A), Mysore. However, the case

M/S. TOYOTA TAUSHO INDIA PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -3(1)(1), BENGALURU

Accordingly, this ground is allowed for statistical purposes

Bench: Shri N.V Vasudevan & Shri Laxmi Prasad Sahu

292,875,727. 3. That the Learned AO/ Learned Panel erred in upholding the rejection of the Transfer Pricing ("TP") documentation maintained by the Appellant. 4. That the Learned AO/ Learned Panel erred in upholding the rejection of comparability analysis of the Appellant as per the TP documentation and confirming the comparability analysis adopted by the Learned TPO. 5. That

NIYAZ SEA FOODS ,MANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 , MANGALORE

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

68 of the Act. 20. However, it is an undisputed fact that the statement recorded under Section 132(4) of the Act has better evidentiary value but it is also a settled position of law that addition cannot be sustained merely on the basis of the statement. There has to be some material corroborating the content of the statements

MOHAMMED IBRAHIM MOHIDEEN,KERALA vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , MANGALORE

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

68 of the Act. 20. However, it is an undisputed fact that the statement recorded under Section 132(4) of the Act has better evidentiary value but it is also a settled position of law that addition cannot be sustained merely on the basis of the statement. There has to be some material corroborating the content of the statements

MOHAMMED IBRABIM MOHIDEEN ,KERALA vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, MANGALURU

In the result, appeal of the assessee in ITA

Bench: Shri Chandra Poojari & Shri Keshav Dubey

68 of the Act. 20. However, it is an undisputed fact that the statement recorded under Section 132(4) of the Act has better evidentiary value but it is also a settled position of law that addition cannot be sustained merely on the basis of the statement. There has to be some material corroborating the content of the statements