SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

58,000/-. The property devolved upon the assessee in a family partition in the year 1972. Assessee treated it as a case of sale of long term capital asset, for which a fair market value was adopted at Rs.225/- per sq.ft. and offered the capital gains for taxation after availing the benefit of indexation. After reopening of the case

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

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

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

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 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.PRABHAVATHY

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 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

SRI Y A SUBRAMANYAM (HUF) vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the impugned order dated

Bench: ALOK ARADHE,RAVI V HOSMANI

58 YEARS S/O SRI. LATE SRI. Y.S. ADINARAYANA SETTY R/AT. SUDHAMA HOUSE CHICKPET, BANGALORE-560053. ... APPELLANT (By Sri. S. PARTHASARATHI, ADV.) AND: THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE 5(1), BANGALORE. ... RESPONDENT (By Sri. K.V. ARAVIND, ADV.) - - - THIS I.T.A. IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 ARISING OUT OF ORDER DATED 20-4-2010 PASSED

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

SMT Y MANJULA REDDY vs. THE INCOME TAX OFFICER

In the result, the appeal is disposed of

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Capital Gain of Rs.51,355/- to tax. 3. The assessment was completed under Section 143(3) of the Act. The Assessing Officer by an order dated 31.12.2010 inter alia held that the assessee has not purchased the asset, in respect of which the 5 claim under Section 54F of the Act has been made and the assessee without prejudice

PR COMMISSIONER OF vs. M/S JEANS KNIT PVT LTD

In the result, we do not find any

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital gain earned. It is urged that since, the tribunal has failed to determine the core issue with regard to colorable devise adopted by the 15 assessee, to evade tax, therefore, the matter be remitted to the tribunal for decision afresh in accordance with law. In support of aforesaid submissions, the reliance is placed on decision of Supreme Court

PR COMMISSIONER OF INCOME TAX-4 vs. M/S JEANS KNIT PVT LTD

In the result, we do not find any

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital gain earned. It is urged that since, the tribunal has failed to determine the core issue with regard to colorable devise adopted by the 15 assessee, to evade tax, therefore, the matter be remitted to the tribunal for decision afresh in accordance with law. In support of aforesaid submissions, the reliance is placed on decision of Supreme Court

PR.COMMISSIONER OF vs. M/S JEANS KNIT PVT.LTD

In the result, we do not find any

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capital gain earned. It is urged that since, the tribunal has failed to determine the core issue with regard to colorable devise adopted by the 15 assessee, to evade tax, therefore, the matter be remitted to the tribunal for decision afresh in accordance with law. In support of aforesaid submissions, the reliance is placed on decision of Supreme Court

M/S SITARAM JINDAL FOUNDATION vs. THE ADDL. DIRECTOR OF

Appeal is allowed

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

gain accrues on such transfer, are to be treated as income for purposes of computation Section 11 of the Act? iii. Whether the Appellate Tribunal is justified in disallowing the claim of the appellant-Trust merely relying on the decision of the Hon'ble Calcutta High Court in the case of Hindusthan Welfare Trust v. DIT(E) reported

SATISH KUMAR PANDEY vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed

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

58 Crores. 4. The AO3 noted that the selling expenses was not incurred wholly and exclusively in connection with the transfer of Capital asset and vide order dated June 04, 2018, under Section 143(3) of the IT Act4, AO disallowed the expenses and made an addition of Rs. 1,18,29,300. The 2KPMG India Private Limited. 3 Assessing

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