1. VOLUME NO.: LLAT/788 OF 2016-17 DATE: 27 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 DEL ITAT 92C ITA
In transfer pricing proceedings finance and bank charges form part of operating
expenses and need to be included while calculating margin of comparables.
1.2 51TM326 Transfer Pricing
Cash Edge India (P.) Ltd
2.1 DEL ITAT 92C ITA
Addition for AMP expenses can not be deleted only because As profit margin
matches those of comparables.
2.2 58TM375 Transfer Pricing
Casio India Co. (P.) Ltd
3.1 GUJ HC 28(i) 56 ITA
Interest received from bank FDR and commission from sister concern was to be
assessed as income from business and not as income from other sources.
3.2 54TM415 Business income
Cedan Vinimay (P.) Ltd.
4.1 KOL HC 14A 36(1)(iii) 37(1) ITA
Where major part was of shares came to A by virtue of a merger and for making
such investment A would not have used loan fund suo motu disallowance of interest
in respect of balance part of investment made by A was justified.
4.2 57TM119 Disallowance
Cellice Developers (P.) Ltd
5.1 HYD ITAT 253 ITA
Filing fees was to be paid on basis of assessment order and not on basis that A had
filed NIL return seeking exemption under section 11.
5.2 45TM343 Appeals
Centre for Rural Studies & Development Madakasira
6.1 SC 9 ITA
Since employees of overseas companies used their technical knowledge and skills
while assisting A in conducting its business of quality control and management
amounts reimbursed by A to overseas companies towards salaries of seconded
employees amount
6.2 51TM386 Deemed income
Centrica India Offshore (P.) Ltd
