1. VOLUME NO.: LLAT/776 OF 2016-17 DATE: 13 June 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 MUM ITAT 41(1) ITA
Creditors liability ceased to exist when they didnt demand anything for more than 10
years.
1.2 59TM430 Remission or cessation of trading liability
Asht Laxmi Diamond & Jewellery
2.1 KAR HC 37(1) 28(i) ITA
Where A incurs a liability under a contract which is terminated and therefore no
amount under contract or in pursuance of a claim is receivable A is entitled to claim
said amount incurred as expenditure in implementing contract.
2.2 49TM428 Business Expeniture
Asia Power Projects (P.) Ltd
3.1 KOL HC 147 ITA
Reasons recorded for reopening the case cannot be added to or subtracted from or
improved in the affidavit-in-opposition.
3.2 WP No 25_2014 Reassessment
Asiatic Oxygen Limited
4.1 MUM ITAT 194C ITA
Where taxes have been deducted at source in respect of expenditure incurred by
holding company no disallowance can be made with reference to such expenditure in
hands of subsidiary company while reimbursing same to holding company.
4.2 51TM128 Tax deduction at source
ASK Wealth Advisors (P.) Ltd
5.1 CHD ITAT 194A ITA
Deduction of tax at source on interest could not be deferred by Banks on deposits
and keep on waiting for certificate under section 197 to be obtained by A depositor it
is liable to deduct tax as per mandate of section 194A.
5.2 56TM200 TDS
Assistant General Manager (PR)
6.1 BOM HC 154 ITA
Rectification application to disallow marketing expenses based on contentions which
were noted in earlier order of Tribunal would not be proper.
6.2 50TM040 Rectification
Assistant Registrar ITAT
