1. VOLUME NO.: LLAT/816 OF 2016-17 DATE: 30 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 PAT HC 12AA ITA
Registration of trust cannot be denied on grant of minority status to educational
institution.
1.2 60TM188 Registration
International School of Human Resources & Social Welfare Society
2.1 CHENN ITAT 92C ITA
Treatment should be given similar to transactions of two assessment years
emanating from same agreement.
2.2 66TM095 Tranfer Pricing
Invensys India (P.) Ltd
3.1 MAD HC 37(1) ITA
Foreign travel expenses of wife was allowable as she travelled in capacity of partner
of firm for business purposes.
3.2 59TM363 Business Expenditure
Irbaz Shoe Co
4.1 DEL HC 45 ITA
Loss arising on assignment of right to receive Iraqi debt in lieu of bonds issued by
Indian Govt. was not capital loss.
4.2 57TM336 Capital gain
Ircon International Ltd
5.1 MUM ITAT 43(5) ITA
Call/put options transactions in foreign currency are derivatives and loss suffered
from the same is not a speculation loss.
5.2 ITA No 4798_2012 Speculation Loss
IVF Advisors Private Limited
6.1 AP HC 50C ITA
For the purpose of section 50C land and buildings cant be treated as separate
assets their aggregate value to be assessed.
6.2 42TM182 Slump sale
J. Anjaneya Sharma
