1. VOLUME NO.: LLAT/733 OF 2016-17 DATE: 23 April 2014
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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 ALLBD HC 226 ITA
Recovery of sum could be made from employee where amount has been paid to an
employee in excess to what he was entitled or payable to him after giving an
opportunity of being heard.
1.2 40TM377 Collection and recovery
Janardan Yadav
2.1 MUM ITAT 10(23G) ITA
Benefit of section 10 (23G) cannot be taken away just because investee company
which had originally been approved by Government has amalgamated into another
company.
2.2 40TM379 Exemption
Goa Trading (P.) Ltd.
3.1 GUJ HC 254 ITA
TRIB order need not be interfered with where it had recalled its earlier order
dismissing appeal for non-prosecution and decided appeal on merits
3.2 40TM393 Appeallable Orders
Champakbhai Mohanbhai Patel
4.1 GUJ HC 50C ITA
Section 50C applies onlyin case of seller of property not in the case of buyer of
property.
4.2 40TM398 Full value of consideration
Sarjan Realities Ltd
5.1 MAD HC 80-IA ITA
Section 80-IA deductions could not be allowed on insurance claim received to cover
loss of production.
5.2 40TM399 Deduction
Gangothri Textiles Ltd.
6.1 ALLBD HC 69 145 ITA
Addition made by AO on account of unexplained investment in stock could not be
made as books of account of A had not been rejected and A had also explained
valuation of stock based on gross profit rate and discount rate.
6.2 40TM401 Unexplained investment
Gopal Das Sarab Dayal Sons
