1. VOLUME NO.: LLAT/ 461 OF 2011-12 DATE: 29th February, 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 Chd ITAT 12A, ITA For purpose of granting registration u/s 12AA, a single non-
operative clause of commercial nature could not obliterate
whole range of charitable activities undertaken by 'A'-society.
1.2 18 TM 222 Ch. Trust Baba Amarnath Educational Society
2.1 JP ITAT 11, ITA For purpose S 10(23C), annual receipt is to be considered
without excluding contribution towards corpus of trust
2.2 18 TM 223 Ch. Trust Indian Medical Trust
3.1 Kar HC 45, ITA Applicability of S 45(4) where 'A'-firm by making a book entry
allowed its partners to withdraw individual properties
contributed by them and, thereafter, firm was converted into
joint stock company.- matter remanded to ITAT
3.2 18 TM 226 Cap. Gains Gokuldas Exports
4.1 AAR 44, ITA Income arising from business activities falling under ambit of
section 44BB(1) of the Act; it even goes to extent that if a part
of income falls under "Royalties" or "Fees for Technical
Services", there is no scope to assess such receipts under
these heads, once it is held that income is from its oil
exploration and production activities as envisaged.
4.2 18 TM 243 Sp. Provision Global Industries Asia Pacific Pte
5.1 Del ITAT 271, ITA Reliance on CA's opinion which dealt with accounting for
expense (not its deductibility under the Act) will not save 'A'
from penalty.
5.2 18 TM 244 Penalty Chadha Sugars
6.1 Kol ITAT 271, ITA Penalty applicable if tax on undisclosed income unpaid till
passing Assessment order
6.2 ITA NO Penalty Pioneer Marbles & Interiors
1326/2011
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