DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

M/S. DAKSHINA KANNADA NIRMITHI KENDRA,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE -1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

M/S. UDUPI NIRMITHI KEDRA,UDUPI vs. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE - 1, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. INCOME TAX OFFICER, WARD 1(1),, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

DAKSHINA KANNADA NIRMITHI KENDRA ,MANGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CIRCLE-1,, MANGALURU

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

M/S. UDUPI NIRMITHI KENDRA,UDUPI vs. ASSISTANT COMMISSIONER OF INCOME TAX, (EXEMPTIONS) CIRCLE-1, MANGALORE

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

transfer is shown at a lesser figure than that actually received. 3.14 Hence, it is submitted that the 1st proviso to section 2 (15) can be invoked only if, under the specific facts and circumstances, the case falls within the mischief as envisaged by the Legislature. ITA No.947&948 /Bang/2019, ITA 1962/Bang/2018 & ITA Nos.2086 to 2089/Bang/2018 M/s. Udupi Nirmithi Kendra

BANGALORE DEVELOPMENT AUTHORITY ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX EXEMPTIONS RANGE , BANGALORE

In the result, the assessee’s appeal for Assessment Year 2012-13 is allowed as indicated above and Revenue’s cross appeal is consequently dismissed

Bench: Shri Jason P. Boaz & Shri Laliet Kumar

transfer of the property. (x) Formation of new extensions or layouts or making new private streets. (xi) Allotment/ sale of sites and buildings by direct sales, lease cum sale method and through auction sales in respect of corner sites and commercial sites. ITA No. 1087/Bang/2017 Page 20 of 42 5.3.5 The AO has summarized the main objects, functions and activities

DEPUTY COMMISSIONER OF INCOME TAX (E) CIRCLE- 1, BANGALORE vs. M/S BANGALORE DEVELOPEMNT AUTHORITY , BANGALORE

In the result, the assessee’s appeal for Assessment Year 2012-13 is allowed as indicated above and Revenue’s cross appeal is consequently dismissed

Bench: Shri Jason P. Boaz & Shri Laliet Kumar

transfer of the property. (x) Formation of new extensions or layouts or making new private streets. (xi) Allotment/ sale of sites and buildings by direct sales, lease cum sale method and through auction sales in respect of corner sites and commercial sites. ITA No. 1087/Bang/2017 Page 20 of 42 5.3.5 The AO has summarized the main objects, functions and activities

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

section 53A of the Transfer of Property Act. This agreement cannot, therefore, be said to be in the nature of a contract referred to in section 53A of the Transfer of Property Act. It cannot, therefore, be said that the provisions of section 2(47)(v) will apply in the situation before us. Considering the facts and circumstances

SKF TECHNOLOGIES (INDIA) PRIVATE LIMITED,BANGALORE vs. ACIT, BANGALORE

Bench: Shri. Abraham P. George

2 u/s.144C(5) of the Income-tax Act, 1961('the Act' in short), for assessment years 2006-07 and 2007-08 respectively. 02. Except for two grounds relating to claim for carry forward loss and disallowance of group information technology (IT) expenditure twice, appearing in the appeals for A. Ys. 2007-08, the other grounds are common for both

M/S CAE FLIGHT TRAINING (INDIA) PRIVATE LIMITED,BANGALORE vs. ITO, BANGALORE

In the result, Both the C

Bench: Shri Arun Kumar Garodia & Smt. Beena Pillai

15% upon issue of Compulsory Convertible Debenture to its three respective associated enterprises namely, Flight Training Mauritius, Emirates Dubai and CAE Hungary. These three international transactions, in respect of such interests paid, were referred by the Assessing Officer to the Transfer Pricing Officer for mere determination of their respective arm's length prices within the ITA No. 2006/Bang/2017

ITO, BANGALORE vs. M/S CAE FLIGHT TRAINING PVT. LTD.,, BANGALORE

In the result, Both the C

Bench: Shri Arun Kumar Garodia & Smt. Beena Pillai

15% upon issue of Compulsory Convertible Debenture to its three respective associated enterprises namely, Flight Training Mauritius, Emirates Dubai and CAE Hungary. These three international transactions, in respect of such interests paid, were referred by the Assessing Officer to the Transfer Pricing Officer for mere determination of their respective arm's length prices within the ITA No. 2006/Bang/2017

M/S JUPITER CAPITAL PVT LTD ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(5), BANGALORE

In the result, the appeal filed by the assessee is allowed

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodiaassessment Year : 2014-15

15 of 19 Court in the case of CIT v Surat Cotton Spinning & Weaving Mills Pvt. Ltd; wherein it was observed that in a scheme of similar transfer full value of consideration could be nil. contending that the assessee's case involved real transfer u/s 2(47) of the I.T. Act. The assessee has also referred to the judgments

M/S.SOFTTEK INDIA PVT LTD.,,BANGALORE vs. DCIT- CIRCLE-6(1)(2), BANGALORE

Bench: Shri Inturi Rama Rao & Shri Laliet Kumar

section 92C on the basis of such material or information or document available with him. After the Transfer Pricing Officer determines the arm's length price, it is incumbent upon him to send a copy of the order to the assessing officer and to the assessee. In the present case what has happened is that the Transfer Pricing Officer

M/S ATRIA POWER CORPROATION LTD.,,BANGALORE vs. ITO, BANGALORE

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

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodiaassessment Year : 2010-11

Transfer Scheme), Rule 2001 and is not required to and has not been strictly preparing its audited annual account as per Parts II and III of Schedule-6 of the Companies Act, 1956. 24.6 Further contention of the Learned AR remained that prior to the amendment to sub-section (2) of sec. 115JB of the Income

INCOME TAX OFFICER WARD-1(1)(2), BANGALORE vs. M/S ATRIA HYDEL POWER LIMITED , BANGALORE

In the result, ITA Nos.534 to 556/Bang/2018 and CO Nos

Bench: Shri N. V. Vasudevan & Shri Jason P. Boazassessment Years : 2010-11 Income-Tax Officer, Vs. M/S. Atria Hydel Power Ltd., Ward - 1(1)(2), #1, Palace Road, Bengaluru. Bangalore-560 001. Pan : Aacca 3754 E Appellant Respondent

Transfer Scheme), Rule 2001 and is not required to and has not been strictly preparing its audited annual account as per Parts II and III of Schedule-6 of the Companies Act, 1956. 24.6 Further contention of the Learned AR remained that prior to the amendment to sub-section (2) of sec. 115JB of the Income

ASSISTANT COMMISSIONER OF INCOME TAX (E) CIRCLE-1 , BANGALORE vs. KARNATAKA INDUSTRIAL AREA DEVELOPMENT BOARD , BANGALORE

In the result appeal filed by assessee stands allowed as indicated hereinabove

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2012 – 13

transferred by the Government under section 32 of the KIAD Act, that the role of the Board begins. Restraint on expenditure from funds of the assessee 26. Section 23 stipulates that the assessee shall have the authority to spend such sums as it thinks fit for the purposes authorised under this Act from out of Board's funds, Every expense

KARNATAKA INDUSTRIAL AREAS DEVELOPMENT BOARD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, EXEMPTIONS, CIRCLE-1, BANGALORE

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

transferred by the Government under section 32 of the KIAD Act, that the role of the Board begins. Restraint on expenditure from funds of the assessee 26. Section 23 stipulates that the assessee shall have the authority to spend such sums as it thinks fit for the purposes authorised under this Act from out of Board's funds. Every expense