1. VOLUME NO.: LLAT/817 OF 2016-17 DATE: 31 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 MUM ITAT 92C ITA
Where additional cost is incurred in relation to services rendered to unrelated parties
as compared to similar services rendered to related parties relief should be allowed
on account of functions performed risk assumed and asset employed in services
1.2 44TM466 Transfer Pricing
J.P. Morgan India (P.) Ltd
2.1 NAG ITAT 2(22) ITA
Shareholding percentage has to be checked at the time of availing loan for purpose
of deemed dividend.
2.2 61TM356 Deemed dividend
Jagjitsingh Jaswantsingh Oberoi
3.1 SC 80HHC ITA
Total Turnover does not include sale proceeds of scrap.
3.2 CA No 5759_2012 Deductions
Jagraon Exports
4.1 DEL ITAT 40(a)(ia) 4 ITA
Since A was not entitled to claim deduction of godown rent paid on behalf of
importers under any of sections 30 to 38 there could be no question of making
disallowance under section 40(a)(ia).
4.2 48TM019 Disallowance
Jaguar Enterprises
5.1 CHD ITAT 48 ITA
Maintenance expenses for remaining life of trees cannot form cost of improvement
since once a tree becomes able to bear fruit whatever expenses are incurred same
will be revenue and recurring expenses.
5.2 67TM058 Computation of Cap. gains
Jai Chand
6.1 DEL ITAT 145 ITA
Addition made to As income on account of consignment sales not included in
turnover was against guidelines issued by ICAI and thus same deserved to be
deleted.
6.2 49TM169 Accounting method
Jaintex Apparels (P.) Ltd
