1. VOLUME NO.: LLAT/ 522 OF 2012-13 DATE: 10h July, 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 9, ITA a) Project Management Services(PMC) of 'A' are not
consideration for " construction, assembly, mining or like
project", hence taxable as FTS.b) As the DTAA with Japan does
not have provision like Netherlands that the expenses will be
allowed "in accordance with and subject to the limitations of
local law", the provisions of S 44D can not be applied to limit
expenses
1.2 2012-TII-55 DTAA M/s Toyo Engineering Corporation
2.1 DEL ITAT 145A, ITA While computing the book profits u/s 115JB, the debenture
redemption reserve and short provision of expenses of earlier
years has to be included and a rectification can be made u/s
154 of the Act though it is a debatable issue.
2.2 22 TM 26 Method of A/c Luxor Writing Instruments (P.) Ltd
3.1 BANG ITAT 92C, ITA The profits of an enterprise of a Contracting State shall be
taxable only in that Contracting State unless the enterprise
carries on business in the other Contracting State through a
permanent establishment situated therein. If the enterprise
carries on business as aforesaid, the profits of the enterprise
may be taxed in that other Contracting State but only so much
of them as is directly or indirectly attributable to that permanent
establishment.
3.2 22 TM 27 TP Mercedes-Benz Research & Development India (P.) Ltd
4.1 BANG ITAT 92C, ITA Where marketing and technical risk attached to comparables
was not similar to that of 'A' who was having a single customer,
risk adjustment had to be given to net margin of comparables
for determining ALP
4.2 22 TM 28 TP Intellinet Technologies India (P.) Ltd
5.1 CHENN ITAT 80IA, ITA Charging higher prices from AE can't bar S 80-IA deduction,
unless it results in 'more than ordinary profits
5.2 22 TM 54 Deduction OPG Energy (P.) Ltd
6.1 CHENN ITAT 12, ITA Associations promoting kindness and preventing or suppressing
cruelty to animals, associations providing veterinary care and
treatment, associations concerned with care and re homing of
animals that are abandoned or mistreated or lost, associations
doing ferine animal control, are extension of charities. This
would definitely, fall within the object of 'general public utility'.
6.2 22 TM 56 Ch. Trust Snekalaya for Animals
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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