1. VOLUME NO.: LLAT/ 505 OF 2012-13 DATE: 20th June, 2012
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Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SR. AUTHORITY SECTION / RULES / RATIO(S)
NO. CITATIONS SUBJECT CASE(NAME OF ASSESSEE)
1.1 MUM ITAT 2(29A), ITA A' was having an office premises in a property on tenancy basis
for last 30 years and she had purchased said office from owner
through open bidding and not through ownership right, cost of
acquisition of office premises would be cost, which was incurred
for acquiring it
1.2 21 TM 324 Busi.Inc Nila V. Shah
2.1 CUTK ITAT 22, ITA Rent received by 'A' from leasing out a market complex along
with incidental services like electrician, plumber, security etc.
was to be taxed as business income
2.2 21 TM 325 Busi.Inc Narayan Market Complex
3.1 BANG ITAT 9, ITA Lump sum payment made by 'A' to a non-resident company for
acquiring a licence to use its software programme is to be taxed
as royalty in India.
3.2 21 TM 329 DTAA ING Vysya Bank
4.1 AHD ITAT 9, ITA The 'A', employed in India as ‘service provider’ to set up Indian
office of a foreign company, can be considered as ‘top level
managerial person’ in order to be entitled to the benefit of full
exemption of salary under Article 17(2) of the tax treaty. The 'A'
can claim the benefit of S 80G on donations made from house
hold expenses.
4.2 2012-TII-46 DTAA Mohan Balakrishnan Pookulanagara
5.1 MAD HC 40, ITA When 'A' deposits tax deducted at source well before filing
return but beyond the FY concerned, no disallowance is called
for delayed payment.
5.2 2012-TIOL-386 TDS Shanti Logistics
6.1 MUM ITAT 37, ITA Initial issue expenses or scheme launch expenses of an AMC
are revenue or capital expenditure . Jurisdiction u/s 263 can be
exercised on debatable issues where two views are possible.
6.2 2012-TIOL-255 Busi.Exp Franklin Templeton Asset Management India Pvt
Please let us know if you need any further information on these.
Thanking you and assuring you of our best services at all times.
Yours Faithfully,
For Anand Mehta & Co .,
(CONSULTANTS) PVT. LTD.
Anand V. Mehta
DIRECTOR
A mind of a consultant with a heart of a friend.
Mumbai Office- 334, Mulratna 1st Floor Narshi Natha Street Masjid (W) Mumbai 40009
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