1. VOLUME NO.: LLAT/ 525 OF 2012-13 DATE: 13h 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 145, ITA Deemed dividend can be added in the hands of a share holder
who is not registered shareholder .
1.2 2012-TIOL-304 Method of A/c Anand Rathi Direct India Pvt Ltd
2.1 KAR HC 9, ITA Consideration paid by Indian customers or end users to 'A'-
foreign supplier, for transfer of right to use software/computer
program in respect of copyrights falls within mischief of 'royalty'
2.2 20 TM 501 DTAA Sonata Information Technology Ltd
3.1 MUM ITAT 36, ITA In order to claim deduction on account of bad debts, it is
enough if there is reduction in 'loans & advances/debtors'
account to extent of provision for bad and doubtful debt
3.2 22 TM 31 Deduction Arrow Coated Products Ltd
4.1 MUM ITAT 271, ITA Rejection to set-off the speculative losses doesn't invite
concealment penalty
4.2 22 TM 38 Penalty Hongkong & Shanghai Banking Corpn. Ltd
5.1 MUM ITAT 36, ITA Third member has no right to express a third opinion on point
of difference, even if he is fully convinced about correctness of
such third opinion
5.2 22 TM 43 Deduction Visen Industries Ltd
6.1 MUM HC 45, ITA 'A' inherited certain land, leased out same on payment of
ground rent and ultimately sold it after decades, profit arising
from sale of land was to be taxed as 'CG's.
6.2 22 TM 57 Cap.Gain Estate of Shri E.F. Dinshaw
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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