1. VOLUME NO.: LLAT/796 OF 2016-17 DATE: 7 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 ALLBD HC 69 ITA
Since money for carrying out construction was being arranged by A as per terms of
agreement and company had no income at that time there was no occasion to
assess unaccounted investment in hands of company and it was rightly assessed in
hands of A.
1.2 49TM255 Undisclosed Investments
D.P. Kanodia
2.1 KAR HC 158BC 158BD ITA
When any person other than one named in warrant is searched there should be a
search warrant issued in his name as well because search and seizure is a condition
precedent for passing a block assessment order.
2.2 42TM495 Search Assessment
D.S. Manjunath
3.1 MUM ITAT 80-IA ITA
Deduction under section 80-IA was allowable where A supplied water for cargo ships
for their engine cleaning and other miscellaneous purposes and the same was part
of business of A.
3.2 52TM045 Deduction
Dahej Harbour and Infrastructure Ltd
4.1 DEL HC 37(1) 43B ITA
Disallowance u/s 43B cannot be made on unpaid differential price of sugarcane as
the same was under challenge.
4.2 52TM235 Deduction
Dalmia Bharat Sugar & Industries Ltd
5.1 AP HC 263 143 ITA
Where CIT cancelled assessment order passed under section 143(1) and directed
AOto make assessment of A afresh it was not necessary to seek previous approval
of Inspecting Assistant Commissioner before issuing notice under section 143(2).
5.2 61TM195 Revision
Damodarlal Badruka
6.1 MUM ITAT 92C ITA
Where in respect of charging of interest on delayed payments for sale transaction no
direct comparison could be made between controlled transactions with A.E. and
uncontrolled transactions with third party LIBOR rate + 1.5 per cent be applied and
adj
6.2 43TM190 Tranfer Pricing
Dania Oro Jewellery (P.) Ltd
