1. VOLUME NO.: LLAT/755 OF 2016-17 DATE: 20 May 2014
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
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 HYD ITAT 92C ITA
Where segmental working is available operating cost has to be calculated on basis of
said segmental results and TPO/AO was not justified in estimating operating cost on
basis of proportionate turnover.
1.2 41TM385 Transfer Pricing
Tecumseh Products India (P.) Ltd
2.1 P&H HC 143(3) ITA
Credit for TDS would be allowed in subsequent year as the relevant income had
been accounted in earlier assessment year but TDS certificate was issued late in
subsequent year
2.2 41TM404 Assessment
Abbott Agency Ludhiana
3.1 GUJ HC 250 ITA
If AO is not given an opportunity to cross-examine witnesses who are examined
during pendency of appeal. CIT (A) cannot rely upon statements/depositions of such
witnesses as it would be in violation of principles of natural justice.
3.2 41TM405 Appeal
Pradyuman M. Patel
4.1 KAR HC 54F ITA
For computing exemption under section 54F amount of investment and not extent of
construction is relevant.
4.2 41TM411 Exemption
Dr. R. Balaji
5.1 GUJ HC 68 ITA
Addition was to be deleted when contract notes and demat accounts prove
genuineness of share transactions.
5.2 41TM425 Income from CC
Himani M. Vakil
6.1 ALLBD HC 69B 147 ITA
Reassessment proceedings could not be initiated mechanically after expiry of ten
years from end of relevant assessment year merely on basis of information supplied
by Investigation Wing.
6.2 41TM427 Reassessment
Smt. Laxmi Mehrotra
