PR. COMMISSIONER OF INCOME TAX vs. SMT. G. LAKSHMI ARUNA

Bench: K.SOMASHEKAR,UMESH M ADIGA

capital gains earned thereon had not been declared for tax. Accordingly, a sum of Rs.5,25,000/- was brought to tax. 15. Further at paragraph 8 of the order relating to bogus transportation expenses claimed for the assessment years 2009- 10 and 2010-11, the assessing officer has brought on record that the appellant has claimed transportation expenses

PR. COMMISSIONER OF INCOME TAX vs. SHRI. GALI JANARDHANA REDDY

Bench: K.SOMASHEKAR,UMESH M ADIGA

5 total income under the original assessment order passed. However, it was noticed that though the assessment proceedings was initiated by issue of notice under Section 143(2), The Tribunal vide said order also knocked down the assessment proceedings completed under Section 144 read with Section 153D on similar ground that no satisfaction note was recorded by the assessing officer

THE PR COMMISSIONER OF vs. M/S MPHASIS LIMITED

Bench: The Hon'Ble Mr. Justice M. Nagaprasanna

5. One common stream that runs through in all these petitions is willful evasion of tax on claims made under the head Long Term Capital Gain/Short Term Capital Loss. Against all these petitioners for filing of income tax returns by claiming Long Term Capital Gain/Short Term Capital Loss proceedings are initiated by registering a crime invoking Section

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains of business and profession and therefore, depreciation has to be allowed. That reference made to Section 24 of the Act by the counsel for the Revenue is incorrect. He, therefore, contended that the Tribunal has rightly granted the depreciation on elevators also. - 18 - 15. We have considered the aforesaid submissions in light of the lease agreement dated 11/8/2003, which

THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

M/S WIPRO LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

AZIM PREMJI TRUSTEE COMPANY PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:-

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

132 or books of account, other documents or any assets requisitioned under section 132A, on or before the 31st day of March, 2021: Provided also that for the purposes of computing the period of limitation as per this section, the time or extended time allowed to the assessee, as per show- 20 cause notice issued under clause (b) of section

THE COMMISSIONER OF INCOME TAX vs. SHRI DINESH D RANKA

The appeal is allowed

Bench: ARAVIND KUMAR,MOHAN M. SHANTANAGOUDAR

capital gains can be levied? 3. Brief facts of the case are as under: The respondent – assessee is carrying on the business in real estate. Admittedly, he owned 35 acres 6 guntas of 4 land at Kothanur Village. The entire land was converted from agriculture to housing purposes in the year 1992. The Bangalore Development Authority approved the plan

THE COMMISSIONER OF INCOME TAX vs. M/S.GAYATHRI ENTERPRISES

Bench: B.MANOHAR,D.V.SHYLENDRA KUMAR

5. A few undisputed facts as can be inferred from the records are that partnership firm by name Gayathri Enterprises came to be formed by the joining together of as many as seven partners as on 19.5.1980. It appears while three minors were admitted to the benefit of the partnership firm and later the company by name M/s. ASK Brothers

THE PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS PVT LTD,

Appeal is dismissed

Bench: JAYANT BANERJI,S.G.PANDIT

132 of the Act on 26.08.2008 and an Assessment Order under Section 153(A) read with Section 143(3) of the Act came to be passed on 31.12.2010. The Assessing Authority considering the income arising on sale of land and relinquishment of rights as business income as against the assessee's treatment as part of income as receipt from capital

SRI A NARAYANASWAMY vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA

capital gains were computed based on the said agreement? 2. Heard Smt. H. Vani, learned Advocate for the Assessee and Shri. K.V. Aravind, learned Senior Standing Counsel for the Revenue. 3. Brief facts of the case are, a search under Section 132 of the Income Tax Act, 19612 was conducted on 02.11.2001 and thereafter, a Notice dated 06.03.2002 under Section

MASTER BALACHANDAR KRISHNAN vs. THE STATE OF KARNATAKA

Bench: B.V.NAGARATHNA,RAVI V HOSMANI

Section 8 of the Act provides for the authorities of the School which are five in number. Section 18 of the Act which deals with authorities and Officers of the School etc., states that the authorities of the School and their composition, powers, functions and other matters relating to them, the officers of the School and their appointment, powers, functions

DR SYED ANWAR vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

Appeal is allowed

Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA

5. In substance, Sri.Shankar's argument is, Assessing Officer's opinion that some undisclosed income in the - 6 - ITA.421/2014 hands of assessee alleging that he had paid as 'on-money' to the original land owners from whom the five individuals had purchased the lands, is unsustainable because the entire assessment is based on typed sheets without any reference

COMMISSIONER OF INCOME TAX vs. S.MADHAVA, M/S BELLARY STEEL ROLING MILLS,

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

5. There was action under Section 132 of the Act in the assessee’s case on 21.10.2003, when the assessee was intercepted at Bangalore Airport, carrying some unaccounted cash. The search resulted in seizure of cash of `40,00,000/-. Consequently, a notice under Section 153(A) of the Act was issued to the assessee on 02.04.2004 asking

COMMISSIONER OF INCOME TAX vs. S.MADHAVA, M/S BELLARY STEEL ROLING MILLS,

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

5. There was action under Section 132 of the Act in the assessee’s case on 21.10.2003, when the assessee was intercepted at Bangalore Airport, carrying some unaccounted cash. The search resulted in seizure of cash of `40,00,000/-. Consequently, a notice under Section 153(A) of the Act was issued to the assessee on 02.04.2004 asking

COMMISSIONER OF INCOME TAX vs. S.MADHAVA (HUF)

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

5. There was action under Section 132 of the Act in the assessee’s case on 21.10.2003, when the assessee was intercepted at Bangalore Airport, carrying some unaccounted cash. The search resulted in seizure of cash of `40,00,000/-. Consequently, a notice under Section 153(A) of the Act was issued to the assessee on 02.04.2004 asking