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 in the absence of any positive material or evidence to indicate that the shareholders were benamidars or fictitious persons or that part of the share capital represented company’s own income from undisclosed sources. The similar view has been taken by the High Courts. 17. As the Apex Court has considered the law in Lovely Exports (Supra

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 in the absence of any positive material or evidence to indicate that the shareholders were benamidars or fictitious persons or that part of the share capital represented company’s own income from undisclosed sources. The similar view has been taken by the High Courts. 17. As the Apex Court has considered the law in Lovely Exports (Supra

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04- 2023] [TS-202-SC-2023] . On examination of the assessment order at page 14, we do not find any reference to any incriminating material found during the course of search which could have shown that the vehicles are used by the directors and his family members for personal purposes

M/S. GLOBAL TECH PARK PVT. LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04- 2023] [TS-202-SC-2023] . On examination of the assessment order at page 14, we do not find any reference to any incriminating material found during the course of search which could have shown that the vehicles are used by the directors and his family members for personal purposes

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04- 2023] [TS-202-SC-2023] . On examination of the assessment order at page 14, we do not find any reference to any incriminating material found during the course of search which could have shown that the vehicles are used by the directors and his family members for personal purposes

M/S. GLOBAL TECH PARK PVT. LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04- 2023] [TS-202-SC-2023] . On examination of the assessment order at page 14, we do not find any reference to any incriminating material found during the course of search which could have shown that the vehicles are used by the directors and his family members for personal purposes

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04-\n2023] [TS-202-SC-2023]. On examination of the assessment order at\npage 14, we do not find any reference to any incriminating material\nfound during the course of search which could have shown that the\nvehicles are used by the directors and his family members for personal\npurposes

M/S. GLOBAL TECH PARK PVT LTD.,,BANGALORE vs. DCIT, CENTRAL CIRCLE-1(1), BENGALURU

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04-\n2023] [TS-202-SC-2023]. On examination of the assessment order at\npage 14, we do not find any reference to any incriminating material\nfound during the course of search which could have shown that the\nvehicles are used by the directors and his family members for personal\npurposes

ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 1, BENGALURU, BENGALURU vs. GLOBAL TECH PARK PRIVATE LIMITED, BANGALORE

In the result appeal no 2319/ Bang/2024 filed by the assessee is partly\nallowed

293 Taxman 141 (SC)/[2023] 454 ITR 212 (SC)[24-04-\n2023] [TS-202-SC-2023]. On examination of the assessment order at\npage 14, we do not find any reference to any incriminating material\nfound during the course of search which could have shown that the\nvehicles are used by the directors and his family members for personal\npurposes

HARIYAPPA KOTIAN,UDUPI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL, BENGALURU

In the result, the appeals of the assessee are allowed

Bench: Shri N.V Vasudevan, Hon’Ble & Shri Laxmi Prasad Sahu

293 – Guj) while considering the explanation of Section 263 of the Act, has held that : - “4 Being aggrieved by the order passed by the PCIT under section 263 of the Act, 1961, the assessee went before the Tribunal. The Tribunal, after considering the submissions made by the assessee and after considering the scope of power to be exercised

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

68,56,2581-(10% of 1036,85,62,584) (PB Pg. 300) IT(TP)A No.2806/Bang/2017 Page 32 of 51 Since, Average inventory i.e., is higher than 10% of total sales of traded goods the assessee does not lie in the definition of Wholesale traders and thus tolerance band of +/-3% is applicable to the assessee. 5. Therefore, assessee being

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE vs. M/S SRI BASAVESHWAR VEERASHAIVA VIDYAVARDHAK SANGHA , BAGALKOTE

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

SRI BASAVESHWAR VEERASHAIVA VIDYAVARDHAK SAGHA,BAGALKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE vs. M/S SRI BASAVESHWAR VEERASHAIVA VIDYAVARDHAK SANGHA , BAGALKOTE

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE vs. M/S SRI BASAVESHWAR VEERASHAIVA VIDYAVARDHAK SANGHA , BAGALKOTE

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE vs. SRI V C CHARANTIMATH , BAGALKOT

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(2), BENGALURU vs. M/S. SRI. BASAVESHWAR VEERASHAIVA VIDYAVARDHAK SANGHA, BAGALKOTE

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2(2), BANGALORE vs. SRI.V.C.CHARANTIMATH , BAGALKOT

In the result, the assessee’s appeals in ITA Nos

Bench: Shri Chandra Poojari & Smt. Beena Pillai

293, Sl No. 45 and Mr. Shreyas Soragavi's name appears in page 295, Sl No. 121. 1 5.3 Ld. A.R. submitted that the Karnataka Private Medical, Dental and Engineering Colleges Association and the Government of ITA Nos.2775, 2776 & 2777/Bang/2017 ITA Nos.64, 65 & 66/Bang/2018 & ITA Nos.235 & 236/Bang/2018 Page 11 of 68 Karnataka entered into an agreement called Consensual agreement