1. VOLUME NO.: LLAT/1480 OF 2016-17 DATE: 20 June 2016
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Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SrNo Authority Section/Rules RATIO(S)
Citation /Subject CASE(NAME OF ASSESSEE)
1.1 MUM ITAT 145 ITA
A having two sources of income under the head business income was not allowed to
follow cash accounting in respect of one source of income whereas mercantile
accounting in respect of other source of income.
1.2 67TM269 Accounting method
Vishwanath Acharaya
2.1 MUM ITAT 92C ITA
Where A adopted different methods TPO was not justified in making addition to As
ALP by aggregating all those international transactions and benchmarking same by
applying TNMM.
2.2 67TM271 Transfer Pricing
SAS Institute (India) (P.) Ltd
3.1 KAR HC 145 ITA
Entire addition made by AO based on estimation of income was to be deleted where
books of account had not been rejected.
3.2 67TM278 Accounting method
Anil Kumar & Co
4.1 MUM ITAT 147 148 ITA
Reassessment was not valid where notice was issued to Indian group company
whereas action taken against foreign parent company.
4.2 67TM280 Reassessment
Techpac Holdings Ltd
5.1 KOL HC 263 115JB ITA
Loss incurred by A on transfer of investment division to another company could not
be added back for computation of its book profit under section 115JB.
5.2 67TM281 Revision
Binani Cement Ltd
6.1 DEL ITAT 194J 9 201 ITA
Since A made payment to TV channels to receive programs for further telecasting
TDS was to be deducted under section 194J.
6.2 67TM282 TDS
Dish TV India Ltd.
