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

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

section 68 of the Act, only the credit emerged in assessment year under consideration could be questioned u/s 68 of the Act and not the opening balance. Being so, the ld. A.O has to verify this transaction as to which assessment year it relates and decide accordingly. This ground of appeal is partly allowed for statistical purposes. 30. Next ground

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

u/s 151 of the Act it has been observed by the approving authority as under:- “Yes, I am satisfied that it is a fit case for issue of notice under section 148 for the reason that a survey under section 133A of the Act was carried out in the case of M/s. Zentrix Studios Pvt. Ltd., on 03.05.2017. During survey

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

u/s\n151 of the Act it has been observed by the approving authority as under:-\n“Yes, I am satisfied that it is a fit case for issue of notice under section 148\nfor the reason that a survey under section 133A of the Act was carried out\nin the case of M/s. Zentrix Studios Pvt. Ltd., on 03.05.2017. During

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

133A of the Act was conducted in the case of M/s. Xentrix Studios Pvt. Ltd., on 03.05.2017. During the survey, it was found that Shri. D. S. Nandish had business companies / firms and utilized the bank account of these entities for depositing cash in assessee’s bank account , Shri D S Nandish has deposited cash in the impugned Assessment Year

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

u/s\n151 of the Act it has been observed by the approving authority as under:-\n\n“Yes, I am satisfied that it is a fit case for issue of notice under section 148\nfor the reason that a survey under section 133A of the Act was carried out\nin the case of M/s. Zentrix Studios

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

133A of the Act was conducted in the case of M/s. Xentrix Studios Pvt. Ltd., on 03.05.2017. During the survey, it was found that Shri. D. S. Nandish had business companies / firms and utilized the bank account of these entities for depositing cash in assessee’s bank account in Oriental Bank of Commerce in account No. 105710110004. Shri D.s. NANDISH

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

133A of the Act was conducted in the case of M/s. Xentrix Studios Pvt. Ltd., on 03.05.2017. During the survey, it was found that Shri. D. S. Nandish had business companies / firms and utilized the bank account of these entities for depositing cash in assessee’s bank account in Oriental Bank of Commerce in account No. 105710110004. Shri D.s. NANDISH

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

133A of the Act was conducted in the case of M/s. Xentrix Studios Pvt. Ltd., on 03.05.2017. During the survey, it was found that Shri. D. S. Nandish had business companies / firms and utilized the bank account of these entities for depositing cash in assessee’s bank account in Oriental Bank of Commerce in account No. 105710110004. Shri D.s. NANDISH

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 143(1) had been issued. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court in the case of ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. reported in 291 ITR 500 (SC). 4.5 The ld. A.R. relied

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 143(1) had been issued. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court in the case of ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. reported in 291 ITR 500 (SC). 4.5 The ld. A.R. relied

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 143(1) had been issued. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court in the case of ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. reported in 291 ITR 500 (SC). 4.5 The ld. A.R. relied

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 143(1) had been issued. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court in the case of ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. reported in 291 ITR 500 (SC). 4.5 The ld. A.R. relied

M/S. YASHASWI FISH MEAL AND OIL COMPANY,UDUPI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, MANGALORE

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

section 143(1) had been issued. ITA Nos.62 to 66/Bang/2023 M/s. Yashaswi Fish Meal and Oil Company, Udupi Page 6 of 85 4.4 Same view is fortified by the judgement of Hon’ble Supreme Court in the case of ACIT Vs. Rajesh Jhaveri Stock Brokers Pvt. Ltd. reported in 291 ITR 500 (SC). 4.5 The ld. A.R. relied

PROTEIN ENTERTAINMENT PVT LTD.,,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2) , BENGALURU

In the result, all the appeals of the assessee are hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s 133A of the Act dt. 3rd May 2017. During the survey proceedings at the premises of M/s Xentrix Studio, the statement of the assessee was recorded under section 131 of the Act as on 4th May 2017. 3. From the statement of the assessee, it was revealed that he is also a director in 9 other companies in addition

DOMMALLUR SHIVANNA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-1(2), BANGALORE

In the result, all the appeals of the assessee are hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s 133A of the Act dt. 3rd May 2017. During the survey proceedings at the premises of M/s Xentrix Studio, the statement of the assessee was recorded under section 131 of the Act as on 4th May 2017. 3. From the statement of the assessee, it was revealed that he is also a director in 9 other companies in addition

PROTEIN ENTERTAINMENT PVT LTD.,,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BENGALURU

In the result, all the appeals of the assessee are hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s 133A of the Act dt. 3rd May 2017. During the survey proceedings at the premises of M/s Xentrix Studio, the statement of the assessee was recorded under section 131 of the Act as on 4th May 2017. 3. From the statement of the assessee, it was revealed that he is also a director in 9 other companies in addition

DOMMALLUR SHIVANNA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2) , BANGALORE

In the result, all the appeals of the assessee are hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s 133A of the Act dt. 3rd May 2017. During the survey proceedings at the premises of M/s Xentrix Studio, the statement of the assessee was recorded under section 131 of the Act as on 4th May 2017. 3. From the statement of the assessee, it was revealed that he is also a director in 9 other companies in addition

DOMMALLUR SHIVANNA NANDISH,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -1(2) , BANGALORE

In the result, all the appeals of the assessee are hereby partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

u/s 133A of the Act dt. 3rd May 2017. During the survey proceedings at the premises of M/s Xentrix Studio, the statement of the assessee was recorded under section 131 of the Act as on 4th May 2017. 3. From the statement of the assessee, it was revealed that he is also a director in 9 other companies in addition