1. VOLUME NO.: LLAT/ 466 OF 2011-12 DATE: 6th 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 MUM – ITAT CCR 2004 Telephone installed at the residence of the partners – Bills
paid by the firm – CENVAT credit on such telephone service
availed – Claimed that the telephone is used for business
purpose – Credit held admissible
1.2 24 STR 30 CENVAT Credit BASP Industries
2.1 Hyd HC 41, ITA Section 41(1) – Remission or Cessation of Trading Liability –
On settlement of dispute the cost of machinery had reduced
by two crore – Depreciation allowed in earlier years on two
crore cannot be taxed u/s.41(1) or 41(2)
2.2 130 ITD 46 Busi.Exp Binjrajka Steel Tubes Ltd.
3.1 Bang HC CCR 2004 A' availed credit relating to capital goods used in provision of
service – Revenue claimed that the credit was availed in
excess of 20% of the tax paid every month – Application of
restriction held erroneous – Credit allowed by way of a
remand.
3.2 24 STR 86 CENVAT Credit BSNL
4.1 Kar HC 132(1), ITA The Tribunal has power to examine the validity of the search
in an appeal against the 'a' order passed pursuant to search.
4.2 244 CTR 126 Search C. Ramaiah Reddy
5.1 DEL HC 44, ITA Presumptive taxation-Determination of profit – revenue, can
not paid determination of profit in excess of ten per cent
5.2 40(I) ITCL 304 Sp.Provision DSD Noell Gmbh
6.1 MUM – ITAT 148, ITA A's appeal allowed by the CIT(A) on merits – In the appellate
proceedings, the 'a' can challenge the validity of the
reassessment proceedings
6.2 ITA Nos. 3088 Reassessment Duratex Export
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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