1. VOLUME NO.: LLAT/814 OF 2016-17 DATE: 28 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 AP HC 2(22) ITA
Where subsidiary company was advancing money to A for purchase of raw material
and to make payments to a company to meet their business liabilities said amount
could not be considered as deemed dividend income of A.
1.2 53TM307 Deemed income
India Fruits Ltd
2.1 KAR HC 12A ITA
Where objectives of A-trust were charitable and said trust was carrying on charitable
activities mere fact that A had proposed to carry on business activity in future to
support its charitable purposes registration could not be declined.
2.2 50TM080 Registration
India Heritage Trust
3.1 PANJ ITAT 195 40(a)(i) 5(2)(b) 9(1)(v)(b) ITA
Usance charges paid by the A on import of raw material attracts tax in India from
foreign countries.
3.2 ITA No 194_2014 TDS
Indian Furniture Products Limited
4.1 KOL ITAT 2(15) ITA
Exemption was to ne allowed to Association of leather allowing outsiders in its
trade-fair on negligible fee.
4.2 64TM406 Charitable Income
Indian Leather Products Association
5.1 HYD ITAT 92C ITA
R & D expenses reimbursement to foreign AE were not sham as no doubt was raised
by Governmental authorities.
5.2 43TM270 Tranfer Pricing
Indigene Pharmaceuticals Jubilee Hills
6.1 BOM HC 92C ITA
Addition of notional interest could not be made where A was not charging interest
from AE and non-AE on pending export dues.
6.2 44TM310 Tranfer Pricing
Indo American Jewellery Ltd
