The document provides a summary of recent legal landmarks in India across various tax authorities and high courts. It lists 6 cases with details of the authority, section/rules of the Indian Income Tax Act involved, key ratio or principle established, citation and name of the assessed party. The cases addressed issues related to transfer pricing adjustments, penalty orders, comparability analysis in transfer pricing, revision of assessment orders, registration of charitable trusts, and validity of reassessment orders.

1. VOLUME NO.: LLAT/1478 OF 2016-17 DATE: 17 June 2016
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Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SrNo Authority Section/Rules RATIO(S)
Citation /Subject CASE(NAME OF ASSESSEE)
1.1 BANG ITAT 92C ITA
Where products of comparable company are similar to A RPM has to be applied to
determine ALP.
1.2 67TM200 Transfer Pricing
Kohler India Corp. (P.) Ltd
2.1 MUM ITAT 271(1)(c) ITA
Since A failed to adopt CUP method and did not benchmark each of international
transaction separately TPO was justified in making addition to ALP on basis of CUP
method and also passing penalty order under section 271(1)(c).
2.2 67TM219 Penalty
Genom Biotech (P.) Ltd
3.1 MUM ITAT 92C ITA
Since A was rendering investment advisory related support services to its AE a
company engaged in performing most functions of a merchant banker would not be
comparable to A.
3.2 67TM221 Transfer Pricing
Tamasek Holdings Advisors India (P.) Ltd.
4.1 KAR HC 263 264 ITA
Order passed by CIT under section 263 revising original assessment which was
already revised under section 264 was void ab initio.
4.2 67TM229 Revision
New Mangalore Port Trust
5.1 KER HC 2(15) 12A ITA
While granting registration to a trust authorities is empowered to examine only
genuineness of trust and its activities.
5.2 67TM230 Charitable trust
Sree Anjaneya Medical Trust
6.1 ALLBD HC 147 ITA
Reassessment could not be initiated merely on the ground of adverse remarks made
by CIT(A) while disposing of an appeal for subsequent AY.
6.2 67TM231 Reassessment
Hemkunt Timbers Ltd