ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

capital gain shall not be charged under section 45 ; (b) xxxxxx Provided that nothing contained in this sub- section shall apply where— (a) the assessee,— 17 (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or” 16. As regards the claim made under Section

THE PR. COMMISSIONER OF INCOME TAX vs. MRS. VANAJA MATTHEN

The appeal is dismissed

Bench: This Court, Questioning The Order Dated 25.01.2017 In

80 FEET ROAD, KORMANGALA BENGALURU - 560 095. ... APPELLANTS (BY SRI. K. V. ARAVIND, ADVOCATE) AND: MRS. VANAJA MATTHEN NO. 401, EMBASSY WOODS 6A CUNNINGHAM ROAD BENGALURU - 560 052 PAN: AKLPM 4914E. … RESPONDENT (BY SRI.ADITYA SONDHI, SENIOR ADVOCATE FOR SRI.MANEESHA KONGOVI, ADVOCATE ) THIS ITA IS FILED UNDER SECTION 260A OF INCOME TAX ACT 1961, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS

COMMISSIONER OF INCOME TAX vs. M/S.BHUWALKA STEEL INDUSTRIES LTD

The appeal of the revenue is dismissed

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

gains from industrial undertakings after a certain date, etc.- (1) xxx (2) This section applies to any industrial undertaking which fulfils all the following conditions, namely :— (i) it is not formed by the splitting up, or the reconstruction, of a business already in existence; (ii) it is not formed by the transfer to a new business of machinery or plant

P ARVIND MAIYA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Accordingly, writ petition is allowed

Bench: S.SUJATHA

80 FEET ROAD, KORAMANGALA BANGALORE-560095. …RESPONDENT [RESPONDENT – SERVED) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE NOTICE ISSUED UNDER THE PROVISIONS OF SECTION 148 OF THE ACT ISSUED BY THE RESPONDENT AS ENCLOSED AND MARKED AS ANNEXURE-A VIDE PAN: AGXPM 4635 J DATED 03.03.2015 AS ONE WITHOUT

P VIKRAM MAIYA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Accordingly, writ petition is allowed

Bench: S.SUJATHA

80 FEET ROAD, KORAMANGALA BANGALORE-560095. …RESPONDENT [BY SRI K.V.ARAVIND, ADV.) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE NOTICE ISSUED UNDER THE PROVISIONS OF SECTION 148 OF THE ACT ISSUED BY THE RESPONDENT AS ENCLOSED AND MARKED AS ANNEXURE-A VIDE PAN: ADQPP 3493 Q DATED

THE COMMISSIONER OF INCOME TAX vs. INDUSTRIAL HYDRAULICS PVT LTD

In the result, this appeal is allowed

Bench: B.S PATIL,P.S.DINESH KUMAR

capital gain tax. 2. The assessee – M/s.B.P.C.Desai was a proprietary concern and later on, it was converted into a Private Limited Company under the name and style “M/s.Industrial Hydraulics Pvt. Ltd.” For the assessment year 1995-1996, return was filed under Section 143(1)(a) of the Act by the assessee claiming deduction under Section 80

PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS P LTD

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

gains, as an essential object for forming an AOP. However the CBDT Circular explaining the above insertion states that such insertion was only to take care of the claim of certain bodies that they did not fall within the definition of a ‘person’ for the sole reason, that they were not supposed to have any income or profits. Section

THE DIRECTOR OF INCOME-TAX vs. M/S. INTEL CAPITAL (CAYMAN) CORPORATION

In the result, the appeal fails and is hereby

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 45 of the Act, the cost of acquisition has to be 6 taken as the cost of debentures. It is further submitted that in case of any conflict between scheme / Rules and the provisions of the Act, the provisions of the Act would prevail. It is also submitted that the Bombay High Court in ‘KINGFISHER CAPITAL

PROF. P.N. SHETTY vs. OFFICE OF THE INCOME TAX OFFICER

Bench: The

80 YEARS, 204-B, SAI RADHA PALACE BRAHMAGIRI UDUPI-576 103 ... APPELLANT (BY SHRI P N SHETTY, PARTY-IN-PERSON) AND: OFFICE OF THE INCOME TAX OFFICER WARD 1 AYAKAR BHAVAN ADI UDUPI AMBALPADY UDUPI-576 103 REPRESENTED BY THE INCOME TAX OFFICER, WARD-1 ... RESPONDENT (BY SHRI K.V. ARAVIND ADVOCATE A/W SHRI DILIP M., ADVOCATE) --- THIS WRIT APPEAL

THE COMMISSIONER OF INCOME TAX vs. SHRI. HOSAGRAHAR

Appeal stands dismissed

Bench: SATISH CHANDRA SHARMA,SURAJ GOVINDARAJ

80 FEET ROAD, KORAMANGALA BENGALURU-560095 ... APPELLANTS (BY SRI. K.V. ARAVIND, ADVOCATE-PH) AND: SHRI. HOSAGRAHAR VISVESVARAYA JAGADISH 1835, CAMBRIDGE ROAD ANN ARBOR MI 48104, USA ... RESPONDENT (BY SRI. BHARADWAJ SHESHADRI, ADVOCATE-PH) THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED I.T.A. NO.601 OF 2019 2 22.04.2019 PASSED

M/S BAGMANE DEVELOPERS PVT LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Bench: ARAVIND KUMAR,JAYANT PATEL

capital gain’ instead of ‘business income’ even when the assessee had earlier claimed the sale of land as part of ‘business income’ and claimed deduction under Section 80

COMMISSIONER OF INCOME TAX (CENTRAL) vs. M/S. BAGMANE DEVELOPERS PVT LTD

Bench: ARAVIND KUMAR,JAYANT PATEL

capital gain’ instead of ‘business income’ even when the assessee had earlier claimed the sale of land as part of ‘business income’ and claimed deduction under Section 80

SHRI N G CHANDRA REDDY (HUF) vs. THE DEPUTY COMMISSIONER OF

The appeal is disposed of in the above terms

Bench: S.G.PANDIT,K. V. ARAVIND

80 FEET ROAD, KORAMANGALA, 6TH BLOCK, BANGALORE-560 095. …RESPONDENT (BY SRI E.I. SANMATHI, SENIOR STANDING COUNSEL) THIS ITA / INCOME TAX APPEAL UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 20/07/2016 PASSED IN ITA No.390/BANG/2015, FOR THE ASSESSMENT YEAR 2005-06 PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE AND ANSWER

AL-MEHDI CO-OPERATIVE CREDIT vs. THE INCOME TAX OFFICER

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have the same meaning assigned to them in Part V of the Banking Regulation

THE LIBERAL CO-OP. SOCIETY LTD. vs. THE INCOME TAX OFFICER

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have the same meaning assigned to them in Part V of the Banking Regulation

CHANDRAPRABHU URBAN CO OPERATIVE vs. THE INCOME-TAX OFFICER

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have the same meaning assigned to them in Part V of the Banking Regulation

THE COMMISSIONER OF INCOME TAX vs. M/S.KURUHINSHETTY URBAN CO- OPERATIVE

In the result, the above questions are answered in favour

Bench: ANAND BYRAREDDY,S.SUJATHA

gains of any business of banking (including providing credit facilities) carried on by a co- operative society. Reference was made to the Explanation appended to Section 80 P (4) - which lays down that a co-operative bank and a primary agricultural credit society, shall have the same meaning assigned to them in Part V of the Banking Regulation

M/S. EVERGREEN HARDWARE STORES vs. THE ASSISTANT COMMISSIONER OF

Appeal is allowed

Bench: P.S.DINESH KUMAR,UMESH M ADIGA

80 (Karnataka) (para 12) I.T.A No.201/2017 7 6. We have considered rival submissions and perused the authority cited by Shri. Shankar. It is held therein that the sine qua non for invocation of power under Section 14A of the Act read with Rule 8D of the Rules is recording of satisfaction by the Assessing Officer. In that case, the Assessing