1. VOLUME NO.: LLAT/ 455 OF 2011-12 DATE: 21st 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 12, ITA Contributions received by 'A'-school from students towards
benevolent fund and development fund was its income where 'A'
had not created any benevolent fund account and there was no
condition stipulated in alleged donation made by parents that it
would be towards corpus donation.
1.2 17 TM 243 Ch.Trust Laxman Public School Society
2.1 Del HC 80HHC, ITA Matter remanded where Tribunal allowed deductions by
following decision of Special Bench which has been overruled.
2.2 17 TM 249 Deduction Paramount Impex
3.1 Kar HC 10A, ITA While computing relief u/s 10A, expenditure incurred by 'A' has
to be excluded from its total turnover also, if same is reduced
from export turnover
3.2 17 TM 250 Sp.Provision Samsung Electronics
4.1 Chen – ITAT 80-IA, ITA Where 'A's windmills claimed deduction u/s 80-IA, profits of
windmills to be calculated on basis of price at which Electricity
Board supplied electricity to industrial undertaking and not on
basis of price at which 'A' supplied electricity to Electricity Board.
4.2 17 TM 254 Deduction Eveready Spinning Mills
5.1 Del – ITAT 80G, ITA Charitable Institution's application, seeking renewal of approval
u/s 80G could not be rejected by Director (Exemptions), unless
approval was specifically withdrawn.
5.2 17 TM 258 Deduction Astha Foundation
6.1 Mad HC 12, ITA A'-society formed with objects to propagate non-violence and
tenets of truth as preached by Tirthankar Bhagwants, was
entitled to registration u/s 12AA
6.2 17 TM 261 Ch. Trust JITO Chennai Chapter
Contd..
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2. VOLUME NO.: LLAT/ 455 OF 2011-12 DATE: 21st February, 2012
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SR. AUTHORITY SECTION / RULES / RATIO(S)
NO. CITATIONS SUBJECT CASE(NAME OF ASSESSEE)
7.1 Kar HC 10A, ITA While computing relief u/s 10A, expenditure incurred by 'A' has
to be excluded from total turnover if same is reduced from
export turnover
7.2 17 TM 263 Sp. Provision Himatsingka Seide
8.1 Del – ITAT 92C, ITA The only one price has been determined notwithstanding the
fact that two comparables were used. Therefore, on the plain
language of the provision, the adjustment as sought is not
admissible.
8.2 2012-TII-08 ALP Vipin Enterprises
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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