This document provides a summary of recent legal landmarks across various tax authorities in India. It lists 6 cases from authorities such as the Delhi High Court, Punjab ITAT, and Ahmedabad ITAT. Each case listing includes the authority, section/rules of the relevant act, a brief ratio describing the ruling, and citation details including the name of the assessed party. The rulings cover topics like reopening of assessments, comparables for transfer pricing computations, depreciation allowances, additions under section 68, reassessment proceedings, and search assessments.

1. VOLUME NO.: LLAT/1483 OF 2016-17 DATE: 23 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 DEL HC 147 148 ITA
Reopening of assessment could not be initiated on factually erroneous premise as
the same would amount to change of opinion.
1.2 WPC No 924_2014 Reassessment
Dr. Ajit Gupta
2.1 PUN ITAT 92C ITA
While selecting comparables for computation of ALP net profit margin of controlled
transactions has to be compared with net profit margin of uncontrolled transactions.
2.2 67TM341 Transfer Pricing
Cummins India Ltd
3.1 AHD ITAT 32 ITA
A was carrying on business as such under same trademark and as a going concern
effective use of trademark could not be disputed and As claim for depreciation was to
be allowed.
3.2 67TM348 Depreciation
Trio Elevators Company (India) Ltd
4.1 DEL HC 68 ITA
No addition could be made under section 68 on basis of loose papers when A
produced all necessary details for AO to make necessary inquiries and a letter from
director of that company conforming that having no transaction with A.
4.2 67TM357 Income from CC
Delco India (P.) Ltd
5.1 DEL HC 14A 28(i) 147 ITA
Reassessment proceedings couldn't be initiated merely on basis of direction issued
by Commissioner that certain disallowance was to be made in terms of section 14A.
5.2 67TM359 Reassessment
Munjal Showa Ltd
6.1 DEL HC 158BB 69 ITA
Where construction of commercial complex was still in progress and rate of floor
space mentioned in seized documents was a mere projection it could not form basis
of addition to As taxable income.
6.2 67TM372 Search Assessment
Vatika Landbase (P.) Ltd.