1. VOLUME NO.: LLAT/ 480 OF 2012-13 DATE: 3rd May, 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 28, ITA Amount received upon complete termination of business
operations is taxable as ‘CG' particularly when right to
manufacture is also abandoned
1.2 2012-TIOL-166 Busi. Gain Tarak Chemicals
2.1 Mum ITAT 10, ITA When the definition of computer programme and software
as contemplated under section 10BB includes processing
or management of electronic data and as per explanation
to section 10B customization of data, then the objection
raised by the AO that the “a”is not producing any new
product, is not justified and totally against the scheme of
the incentive provisions u/s 10B.
2.2 2012-TIOL-169 Sp. Provision Cybertech Systems & Software
3.1 Del HC 40, ITA It is well established that when a court of fact acts on
material, partly relevant and partly irrelevant, it is
impossible to say to what extent the mind of the court was
affected by the irrelevant material used by it in arriving at
its finding. Such a finding is vitiated because of the use of
inadmissible material and thereby an issue of law arises.
3.2 2012-TIOL-224 Busi. Exp Rupa Promotors
4.1 Del HC 2(22)(e), ITA When the shareholders of the 'A'-company are also
shareholders of the company which advances loans, such
a fact suffices the requirement of S 2(22)(e). it is
necessary to take into account the voting rights of the
shareholder before deemed dividend provisions are
invoked.
4.2 2012-TIOL-225 Deemed Div Gopal Clothing
5.1 Chd ITAT 92CA, ITA Reference to TPO is issue-specific and not entity-specific,
only referred transaction can be dealt by TPO
5.2 20 TM 2 TP Glaxo Smithkline Consumer Healthcare
6.1 Del ITAT 194C, ITA Payments made by “a” to transporters providing vehicles
and driver to pick and drop employees is liable to TDS
under section 194C and not section 194I
6.2 20 TM 3 TDS Bharat Electronics
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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