1. VOLUME NO.: LLAT/790 OF 2016-17 DATE: 30 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 ALLBD HC 2(47) ITA
Where A being owners of a property entered into agreement to sell whereby
purchasers on basis of said agreement resold a part of property and further carried
out certain development work transaction in question was to be regarded as transfer
of capit
1.2 46TM268 Transfer
Chandra Prakash Jain
2.1 GUJ HC 50C 147 ITA
Revised computation of income filed after a notice by AO could not be a ground for
re-assessment.
2.2 60TM136 Reassessment
Chandrakant Keshavram Singapuri
3.1 DEL ITAT 92C 92B ITA
TP addition for notional interest relying on SBI base rate for delayed payments made
by AEs was to be upheld.
3.2 46TM090 Tranfer Pricing
Cheil India (P.) Ltd
4.1 MUM ITAT 269T 271E ITA
No penalty could be levied where partners of firm gives money to firm in need of
business exigencies and received it back through capital account both in cash.
4.2 49TM490 Evasion of tax
Chetan M. Kakaria
5.1 CHD ITAT 4 11 12 ITA
Since A was acting on directives of government in implementing scheme of
Government grants so received by A were not income of A and did not form corpus
of A and such grants were not donations or voluntary contribution and should not be
considered as
5.2 44TM233 Chargeability
Chief Administrator Haryana Rural Development Authority
6.1 KOL HC 127 ITA
Where no reasons was indicated in support of decision to transfer case of A despite
objection A against transfer said transfer order could not be accepted.
6.2 50TM049 Power to transfer
Chirag Vincom (P.) Ltd
