The document provides a summary of recent legal landmarks in India related to taxation. It lists 6 cases from various High Courts and Income Tax Appellate Tribunals related to sections of the Income Tax Act covering penalties, business expenses, depreciation, business gains, cash credits, and revenue expenses. For each case, it provides the section/rules addressed, key ratio or principle from the case, and case name or party name. The document was sent by Anand Mehta & Co. consultants to a client to update them on the latest tax rulings.

1. VOLUME NO.: LLAT/ 465 OF 2011-12 DATE: 5th March, 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 Ahd HC 271, ITA The penalty u/s 158BFA (2) is mandatory in nature - While
levying penalty u/s 158BFA(2), the concept of proving
concealment of income cannot be applied as S 158BFA (2)
does not require so and the penalty imposable u/s 271 [1](c)
of the Act is different from S 158BFA(2)
1.2 2012-TIOL-158 Penalty Becharbhai P Parmar
2.1 Del ITAT 14A, ITA Even if 'A' has not earned any income which is not includible
in total income, provisions of S 14A can still be invoked to
disallow expenditure relatable to income not includible in total
income
2.2 18 TM 333 Busi.Exp Relaxo Footwears
3.1 Kar HC 32, ITA Tribunal's order allowing depreciation to 'A' on leased assets
in regular assessment proceedings could not be sustained as
block assessment order had been pending for consideration
in appeal before Commissioner (Appeals)
3.2 18 TM 334 Depreciation Wipro Finance
4.1 Mum ITAT 29, ITA Cost of production of film can be allowed as deduction only
when conditions as specified under rule 9A are satisfied, and
such deduction cannot be permitted by adopting an indirect
method of reducing value of film
4.2 18 TM 348 Busi.Gain Sagar Sardhadi
5.1 Guj HC 68, ITA Entire share capital cannot be added to 'A's income u/s 68
only because some of shareholders did not respond to
notices issued to them.
5.2 18 TM 350 Cash Credits Nilchem Capital
6.1 Coch ITAT 40, ITA The expenditure incurred on study materials (even though
these are in book form) supplied by 'a'-tutorial/Coaching
Centre to students for their use and retention (being
examination specific and their cost being covered in fees
charged to students and not returnable/returned) is revenue
expenditure entitled for 100% deduction.
6.2 18 TM 359 Rev.Exp Brilliant Study Centre
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
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