Legal Landmarks

1. VOLUME NO.: LLAT/766 OF 2016-17 DATE: 2 June 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 GUJ HC 179 ITA
Director of a public limited company could not be treated as director of a private
limited company without issuing show cause notice to him in that regard by
formulation of tentative ground.
1.2 56TM197 Liability in SC
Ajay S. Patel
2.1 PANJ ITAT 9 195 ITA
Retrospective amendment brought by Finance Act 2010 was not in existence at time
when A had made payments to foreign parties therefore the amount was not taxable.
2.2 56TM357 Deemed income
Ajit Ramakant Phatarpekar
3.1 MUM ITAT 24(b) 56 ITA
Interest on housing loan disallowed under section 24 (b) due to maximum limit could
not be set-off against interest income from loan given.
3.2 58TM158 House property income
Akansha Ranju Pilani
4.1 MUM ITAT 9 ITA
Addition could not be made in repect of amount received by A towards shared IT
Global Portfolio Tracking system from its agents.
4.2 47TM187 Deemed income
Aktieselskabet Dampskibsselskabet Svendborg
5.1 PUN ITAT 92C ITA
As claim to exclude comparable companies from list of comparables cannot be
shutout merely because at a certain point of time A itself has included it in list of
comparables.
5.2 51TM117 Transfer Pricing
Akzo Nobel Chemicals (India) Ltd.
6.1 DEL HC 234B ITA
Interest under section 234B was leivable on non-residents even if Indian payer failed
to deduct TDS from payment made to it.
6.2 45TM422 Interest
Alcatel Lucent USA Inc