COMMISSIONER OF INCOME vs. SHRI. M.R. SEETHARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

COMMISSIONER OF INCOME-TAX vs. M.R.PATTABHIRAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

THE COMMISSIONER OF INCOME-TAX vs. M.R.ANANDARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

Section 143(3) of the Act and 1 Assessment Year I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 10 added taxes against each assessee, as shown herein below, on the ground that the lands sold by them are capital assets and the capital gains arising on the said assets are chargeable to tax: Assessee Original return of income Revised return

M/S PRAKASH ELECTRIC COMPANY PRIVATE LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

140 ISSUED BY THE RESPONDENT TO THE PETITIONER VIDE DT.19.12.2007 ENCLOSED IN ANNEXURE ‘A’. THIS WRIT PETITION COMING ON FOR FINAL HEARING THIS DAY, Dr. VINEET KOTHARI J., MADE THE FOLLOWING: ORDER Mr.Chythanya K K, Adv. for Petitioner. Mr. K V Aravind, Adv. for Respondent. We have disposed of the connected appeals filed by the Assessee and the Revenue

M/S FIDELITY BUSINESS SERVICES INDIA PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

gains arising to such shareholder or the holder of other specified securities, as the case may be, in the year in which such shares or other specified securities were purchased by the company. Explanation: For the purposes of this section, “specified securities” shall have the meaning assigned to it in Explanation to section 77A of the Companies

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

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

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

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

Section 153(A) of the Act, it was contended that the said search did not reveal the existence of any undisclosed income or assets representing any undisclosed income. The said search is illegal and without jurisdiction. Therefore, he wanted the entire proceedings be dropped. 7. Anyhow, he filed the very same return under protest

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

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

Section 153(A) of the Act, it was contended that the said search did not reveal the existence of any undisclosed income or assets representing any undisclosed income. The said search is illegal and without jurisdiction. Therefore, he wanted the entire proceedings be dropped. 7. Anyhow, he filed the very same return under protest

COMMISSIONER OF INCOME TAX vs. S.PARVATHI MADHAVA

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

Section 153(A) of the Act, it was contended that the said search did not reveal the existence of any undisclosed income or assets representing any undisclosed income. The said search is illegal and without jurisdiction. Therefore, he wanted the entire proceedings be dropped. 7. Anyhow, he filed the very same return under protest

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

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

Section 153(A) of the Act, it was contended that the said search did not reveal the existence of any undisclosed income or assets representing any undisclosed income. The said search is illegal and without jurisdiction. Therefore, he wanted the entire proceedings be dropped. 7. Anyhow, he filed the very same return under protest

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

The appeals are allowed

Bench: N.KUMAR,H.S.KEMPANNA

Section 153(A) of the Act, it was contended that the said search did not reveal the existence of any undisclosed income or assets representing any undisclosed income. The said search is illegal and without jurisdiction. Therefore, he wanted the entire proceedings be dropped. 7. Anyhow, he filed the very same return under protest

M/S CANARA BANK BSCA SECTION vs. THE ASST COMMISSIONER OF INCOME TAX CIRCLE-11(2)

Bench: N.KUMAR,RATHNAKALA

capital expenditure or personal expenses of the assessee, laid out or expended wholly and exclusively for the purposes of the business or profession shall be - 30 - allowed in computing the income chargeable under the head “Profits and gains of business or profession”. 20. In this context, it is necessary to note the judgment of the Apex Court interpreting Section

PR COMMISSIONER OF INCOME TAX-VI, vs. M/S SAMI LABS LTD.

Bench: S.SUJATHA,VINEET KOTHARI

140 ITD 540, that forex gain relating to export business were part of the operating revenues and had to be considered while working out the ALP of the international transactions undertaken by it. Lower authorities have also not verified the claim of assessee that non-operating expenditures were not excluded while working out the operating expenditure. Similarly its claim that

DR PRESTEENA MATHEW vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

140. DR SOWMYA TR AGED ABOUT 28 YEARS D/O TS RAVIKUMAR RESIDING AT NO.10/75, SRINIVASA 2ND A CROSS, HOSAKERE HALLI, BANASHANKARI, 3RD STAGE BANGALORE-550085 141. DR RAJENDRA PRASAD H AGED 28 YEARS S/O HONNAIAH BA RESIDING AT 386/16, 14TH CROSS WILSON GARDEN, BANGALORE-560030 142. DR NIDHI SINGH AGED 28 YEARS D/O RAMASHANKAR SINGH RESIDING AT NO.201,GALLI

DR ARJUN KALASAPUR vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

140. DR SOWMYA TR AGED ABOUT 28 YEARS D/O TS RAVIKUMAR RESIDING AT NO.10/75, SRINIVASA 2ND A CROSS, HOSAKERE HALLI, BANASHANKARI, 3RD STAGE BANGALORE-550085 141. DR RAJENDRA PRASAD H AGED 28 YEARS S/O HONNAIAH BA RESIDING AT 386/16, 14TH CROSS WILSON GARDEN, BANGALORE-560030 142. DR NIDHI SINGH AGED 28 YEARS D/O RAMASHANKAR SINGH RESIDING AT NO.201,GALLI

DR. MADHAVA. M. vs. STATE OF KARNATAKA

Bench: The Hon'Ble Mr. Justice Krishna S.Dixit

140. DR SOWMYA TR AGED ABOUT 28 YEARS D/O TS RAVIKUMAR RESIDING AT NO.10/75, SRINIVASA 2ND A CROSS, HOSAKERE HALLI, BANASHANKARI, 3RD STAGE BANGALORE-550085 141. DR RAJENDRA PRASAD H AGED 28 YEARS S/O HONNAIAH BA RESIDING AT 386/16, 14TH CROSS WILSON GARDEN, BANGALORE-560030 142. DR NIDHI SINGH AGED 28 YEARS D/O RAMASHANKAR SINGH RESIDING AT NO.201,GALLI