1. VOLUME NO.: LLAT/735 OF 2016-17 DATE: 25 April 2014
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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 GUJ HC 69B ITA
Addition was to be deleted as record indicated that payment of on money had been
made by directors individually and not by A-company.
1.2 40TM435 Income from undisclosed sources
Bhagwati Banquets and Hotels Ltd
2.1 GUJ HC 143 ITA
No addition could be made on basis of disclosure regarding on-money receipt in
subsequent years without any direct or corroborating material in support of receipt of
on-money in year under consideration.
2.2 40TM436 Assessment
Jayaben Ratilal Sorathia
3.1 ALLBD HC 36(1)(vii) ITA
After amendment in section 36(1)(vii) reasons for which amount was written off as
irrecoverable is not subject to scrutiny.
3.2 40TM437 Deduction
Accord Communication Ltd.
4.1 KOL HC 4 ITA
None of grounds assigned by TRIB to show genuineness of transaction of buying
and selling of shares of HDCL was even commented upon by AO as a colourable
transaction therefore income was not charegeable.
4.2 40TM438 Chargeability of income
Lakshmangarh Estate & Trading Co. Ltd
5.1 ALLBD HC 253 ITA
TRIB should allowed AO to correct memo of appeal in case of defecive instead of
dismissing appeal as duplicate.
5.2 40TM439 Appeal
U.P. State Industrial Development Corporation Ltd
6.1 ALLBD HC 142A ITA
Section 142A had been amended with retrospective effect from 15-11-1972
empowering AO to refer matter to Valuation Officer.
6.2 40TM450 Estimation by VO
Sangam Builders
