1. VOLUME NO.: LLAT/ 472 OF 2011-12 DATE: 14th 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 Ahm-HC CE Exemption was claimed at a later stage and not initially –
The benefit of any Notification cannot be denied.
1.2 24 STR 123 Intrepretation Suresh C. Nayi.
2.1 Jhar-HC 35AB, ITA Agreement for supply of technical knowhow : 'A' obliged to
pay income-tax under the agreement : 'A' entitled to
deduction of income tax paid u/s. 35AB.
2.2 243 CTR 163 Busi. Exp Tata Yodogawa
3.1 AAR 5(3), ITA In absence of 'test of cohesiveness, interconnection and
interdependence' for the contracts being met, time spent on
each contract executed in India cannot be aggregated for
the purpose of determination of Construction PE under
Article 5(3) of India-Singapore DTAA. Each contract needs
to satisfy time threshold of 183 days in the relevant financial
year to constitute a PE under the DTAA.
3.2 A.A.R. No. 975 DTAA Tiong Woon Project & Contracting Pte. Limited.
4.1 MUM -ITAT 147, ITA Notice u/s.148 issued without recording in the reasons the
there was failure on the part of the 'a' to disclose fully and
truly all material facts: Notice not valid.
4.2 243 CTR 520 Assessment Titanor Components
5.1 MUM -ITAT 51, ITA Treatment of advance money received – Pursuant to a
transaction of sale of property the 'a' received advance
money – Whether AO justified in reducing the advance
money received from cost of acquisition of the property –
Held, No.
5.2 ITA No. 170 Deemed Income Upendrakumar Shah
6.1 Del -ITAT 28, ITA The amount received from co-venturer for setting-up a
business was not chargeable to tax upon its forfeiture.
6.2 10 ITR 750 Busi. Gain velocient Technologies 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.
Mumbai Office- 334, Mulratna 1st Floor Narshi Natha Street Masjid (W) Mumbai 40009
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