1. VOLUME NO.: LLAT/ 515 OF 2012-13 DATE: 2nd July, 2012
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 Del Trib 49, ITA Indexation benefit available in S.49 cases from the date the
capital asset was held by previous owner (PO) not merely from
date the 'a' acquires it from PO. The expression “held by the a”
to S. 48 should be interpreted to include the period during
which the property was held by the PO.
1.2 18 TM 261 Bus inc Arun shungloo Trust
2.1 Del Trib 68, ITA Where share application money entry racket is unearthed,
burden of proof u/s 68 not discharged by merely submitting
documentary evidence.
2.2 18 TM 217 Cash Credit Nova Promoters & Finlease (P.) Ltd
3.1 Hyd Trib 54F, ITA No exemption u/s 54F is allowed if new house is purchased
through borrowed funds
3.2 18 TM 265 Cap. Gain Smt. V. Kumuda
4.1 Del Trib 9, ITA Merely because “a”, a US company, appointed agents in India
and also opened liaison offices in India, it could not be said that
“a” had a PE in India
4.2 18 TM 306 DTAA Western Union Financial Services Inc.
5.1 AAR 9, ITA Payment received by an Australian company, from its Indian
distributor for sale of applicant's software product in India, is
royalty
5.2 18 TM 172 DTAA Citrix Systems Asia Pacific Pvt. Ltd.,
6.1 Vish Trib 254, ITA Order of Tribunal is binding on all tax authorities unless its
operation is suspended by High Court
6.2 18 TM 101 Order Cargo Handling (P.) Workers Pool
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
Tel -022- 23400882 • Fax-022-23420195 • E-mail: amcon.mumbai@amcount.com
Pune Office –B/5 Shardaram Park, 34, Sasson Road, Near Jehangir Hospital, Pune - 411 001
Tel-020 6401 3124 • Fax 020- 30521223•E-mail: amcon.pune@amcount.com
Gram-MATERPLAN <--> MASTERPLAY
Website:www.amcount.com