1. VOLUME NO.: LLAT/ 453 OF 2011-12 DATE: 07th February, 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 Del ITAT 132,ITA It is not necessary to initiate proceedings u/s 158BD that
assessment must have been made u/s 158BC. It is not
necessary that the officer shall record separate satisfaction note
for each of the 'A', the assessment must related to evidence
found in the course of search
1.2 2012-TIOL-11 Search Jeet Construction Co
2.1 Mum ITAT 115A, ITA The AO had treated the marketing contribution as royalty both
under the provisions of domestic law as well as under DTAA
which is clear from the assessment order. The taxability of
income from international transactions has to be considered,
both under the domestic law as well as under DTAA because
the “a” would be entitled to the benefits of the treaty only if the
sum is taxable under the domestic law.
2.2 2012-TII-03 Sp. Provision DE BEERS UK
3.1 DEL HC 57, ITA The interest received on unutilized commitment advances can
be taxed as revenue income when the interest paid on
commitment advance is treated as a capital expense.
3.2 2012-TIOL-44 Deductions Sasan Power Ltd.
4.1 DEL HC 10, ITA The income of the society is being siphoned off by debiting
bogus expenditure and, therefore, it can not be said that the
applicant society applied its income wholly and exclusively to the
objects for which it was established.
4.2 2012-TIOL-43 Exemption The Synodical Board of Health Services
5.1 MUM ITAT 40, ITA When the agreement with a non-resident agent specifically
provides that he has to incur marketing expenses abroad
besides expenses incurred in development of samples, travel,
communication and salary expenses, the AO can call for the
details of all such expenses incurred by the foreign agent.
5.2 2012-TII-07 Busi.Inc M/s Meru Impex
6.1 DEL ITAT 92,ITA When “a” has transactions with AEs and with unrelated parties,
undertaken in similar functional and economic scenario, the
internal comparables should be the basis for determination of
arm’s length price in respect of transactions with AEs.
6.2 2012-TII-04 ALP Birlasoft India LTD
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.
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