MR. M.N. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

MR. MOHAMMED SAFWAN,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU vs. MR. MOHAMMED SAFWAN, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU vs. MR. MOHAMMED SAFWAN, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

MR. M.A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

MR. MOHAMMED SAFWAN,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

MR. M. A. SIDDIQUE,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, MANGALURU

In the result, the appeal of the assessee in the case of Mr

Bench: Shri A. K. Garodia & Smt. Beena Pillai

66, 67, 68,88 & 89/Bang/2020 Page 9 of 54 d) The learned CIT(A)-2, Panaji on the facts and circumstances of the case, and in law, has failed to appreciate that, the assessment of the assessment year 2015-2016 do not abate under Section

AUGUST JEWELLERY PRIVATE LIMITED,BENGALURU vs. D.C.I.T., CIRCLE 1(1)(1), BENGALURU, BENGALURU

68 r.w.s 115BBE of the Act.\nb. Disallowance on Ad-hoc and estimated basis by disallowing 20% of\nAdvertisement and Business Promotion Expenses to the tune of\nRs.24,06,60,000.\nc. Disallowance of expenses incurred on Employee Stock Option Scheme\nof Rs.4,00,000.\nd. Addition of loss incurred on sale of assets and provision of doubtful debts

AUGUST JEWELLERY PVT LTD,BENGALURU vs. D.C.I.T., CIRCLE 1(1)(1), BENGALURU, BENGALURU

68 r.w.s 115BBE of the Act.\nb. Disallowance on Ad-hoc and estimated basis by disallowing 20% of\nAdvertisement and Business Promotion Expenses to the tune of\nRs.24,06,60,000.\nc. Disallowance of expenses incurred on Employee Stock Option Scheme\nof Rs.4,00,000.\nd. Addition of loss incurred on sale of assets and provision of doubtful debts

AUGUST JEWELLERY PVT LTD,BENGALURU vs. D.C.I.T., CIRCLE 1(1)(1), BANGALORE, BANGALORE

68 r.w.s 115BBE of the Act.\nb. Disallowance on Ad-hoc and estimated basis by disallowing 20% of\nAdvertisement and Business Promotion Expenses to the tune of\nRs.24,06,60,000.\nc. Disallowance of expenses incurred on Employee Stock Option Scheme\nof Rs.4,00,000.\nd. Addition of loss incurred on sale of assets and provision of doubtful debts

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 of the Income-tax Act,1961 ['the Act' for short]. On appeal the Ld. C1T(A) in his order in ITA No. 355/Deputy Commissioner of Income-tax/CC- 1(4)/CIT(A)-11/2015-16 dated 10.02.2016 has deleted the addition made. The revenue is now in this appeal before the Tribunal contesting the deletion made

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 of the Income-tax Act,1961 ['the Act' for short]. On appeal the Ld. C1T(A) in his order in ITA No. 355/Deputy Commissioner of Income-tax/CC- 1(4)/CIT(A)-11/2015-16 dated 10.02.2016 has deleted the addition made. The revenue is now in this appeal before the Tribunal contesting the deletion made

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 of the Income-tax Act,1961 ['the Act' for short]. On appeal the Ld. C1T(A) in his order in ITA No. 355/Deputy Commissioner of Income-tax/CC- 1(4)/CIT(A)-11/2015-16 dated 10.02.2016 has deleted the addition made. The revenue is now in this appeal before the Tribunal contesting the deletion made

BHUWALKA SALES CORPORATION,BANGALORE vs. ACIT, BANGALORE

In the result, the assessee's appeal for Assessment Year 2009-10 is treated as allowed for statistical purposes

Bench: Smt. P. Madhavi Devi & Shri Jason P. Boazi.T. A. No.1436/Bang/2013 (Assessment Year : 2009-10) M/S. Bhuwalka Sales Corporation, No.5, Walker Lane, Bhuwalka Landmark, Langford Road, Richmond Town, Bangalore-560 025 …. Appellant. Pan Aaifb 0063G Vs. Asst. Commissioner Of Income Tax, Circle 1(1), Bangalore. ….. Respondent. Appellant By : Shri K. Seshadri, C.A. Respondent By : Shri P. Dhivahar, Jcit (D.R). Date Of Hearing : 2.2.2015. Date Of Pronouncement : 1.4.2015. O R D E R Per Shri Jason P. Boaz, A.M. : This Appeal By The Assessee Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals)-I, Bangalore Dt.12.8.2013 For Assessment Year 2009-10. 2. The Facts Of The Case, Briefly, Are As Under :- 2.1 The Assessee, In The Business Of Trading In Rolled Products, Filed The Return Of Income For Assessment Year 2009-10 On 26.9.2009 Declaring Income Of Rs.49,25,026. The Return Was Processed Under Section 143(1) Of The Income Tax Act, 1961 (In Short 'The Act') & The Case Was Taken Up For Scrutiny. The Assessment Was Completed Under Section 143(3) Of The Act Vide

68 of the Act in place of deemed dividend u/s.2(22)(e) of the Act, the learned CIT (Appeals) on the merits of the issue, at para 3.16 of the order, held that the addition of Rs.1.25 Crores is to be made as unexplained cash credit u/s.68 of the Act instead of the addition as deemed dividend under Section

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

66. This decision of Hon’ble Andhra High Court was passed after considering the ratio of the Hon’ble Supreme Court in Totgars Co-operative Sale Society(supra) and before the ratio laid down by the Hon’ble Karnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd(supra). The relevant extract stands as under: 11. Does section

VISHWANATHAREDDY CHENNAREDDY,BANGALORE vs. INCOME-TAX OFFICER, WARD-2(2)(7), BENGALURU

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

Bench: SHRI CHANDRA POOJARI (Accountant Member), SMT. BEENA PILLAI (Judicial Member)

Section 68 - Cash credits: "Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income

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

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

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 149 of the Act, the AO is competent to issue notice u/s 148 of the Act for the assessment year 2012-13 on or before 31.3.2019 and in the case of notice u/s 148 of the Act has been issued on 30.3.2019 and it has been issued in time. In view of our above findings, additional ground Nos.1