1. VOLUME NO.: LLAT/794 OF 2016-17 DATE: 4 July 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 case of A rendering agency and distribution services to its Head Office allocation
of expenses could not be done in proportion to turnover rather said expenses had to
be allocated in ratio of gross profit.
1.2 65TM093 Tranfer Pricing
Corning SAS India Branch Office
2.1 AP HC 37(1) ITA
Where neither the amount was paid to electricity supplier nor that liability had been
acknowledged deduction on account of alleged enhanced tariff could not be granted.
2.2 52TM056 Deduction
Coromandal Cements Ltd
3.1 HYD ITAT 80-IB 41(1) ITA
Deduction for section 80-IB was allowable on refund of excise duty as the same is to
be treated as part of business profits.
3.2 53TM111 Deduction
Coromandel International Ltd
4.1 HYD ITAT 263 115JB ITA
Where AO accepted book profit under section 115JB no revision could be done on
ground that prior period expenditure had been reduced while computing book profit.
4.2 49TM070 Revision
Coromandel Stampings & Stones Ltd
5.1 P&H HC 196 201 ITA
Where A failed to prove that interest paid by it to a cooperation was a payment to
Government and would fall under section 196(i) it was liable to deduct tax at source
on such interest at applicable rate.
5.2 65TM013 TDS
Council for Citrus & Agri Juicing in Punjab
6.1 KOL ITAT 21 22 CA Act 1949
Where complainant CA failed to produce statutory required documents signed by
both auditee and auditor indicating undisputed audit fee it could not be alleged of
professional misconduct on acceptance of assignment by other CA.
6.2 42TM082 Professional misconduct
Council of the Institute of Chartered Accountants of India
