1. VOLUME NO.: LLAT/1491 OF 2016-17 DATE: 2 July 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 BOM HC 220 ITA
AO was not justified in attaching bank accounts of A and withdrew amount therefrom
without disposing of stay application filed by A.
1.2 68TM171 Collection and recovery
Khandelwal Laboratories (P.) Ltd
2.1 MUM ITAT 145 ITA
AO could not disturb method of accounting consistently followed by A and accepted
by AO unless it brought on record cogent evidences that method was defective and
correct income could not be computed by following the same.
2.2 68TM183 Accounting method
Edenred (India) (P.) Ltd
3.1 JAIP ITAT 271AA 92D ITA
Penalty could not be imposed for non-maintenance of TP documents where updated
results of earlier comparables in relevant assessment year were furnished by A.
3.2 68TM185 Penalty
Integrated Decisions & Systems (India) (P.) Ltd.
4.1 CHENN ITAT 10AA ITA
No violation by Special Economic Zone for manufacturing gold pendants where
approval was given for medallion as pendant and medallion have same meaning and
usage in common parlance.
4.2 68TM186 Exemption
Jewels Magnum
5.1 KAR HC 145A ITA
Loss due to fall in value of stocks was allowed where A made payment for purchase
of material and goods lying in custody of A though at various ports.
5.2 68TM224 Accounting method
STCL Ltd
6.1 BANG ITAT 246195(2) ITA
When the appeal against the order under Section 195(2) is not maintainable before
CIT(A) for want of jurisdiction as well as for want of the provision of the remedy in
appeal appeal filed by A before the TRIB would not survive.
6.2 68TM228 Appeal
Bangalore International Airport Ltd
