741 3 may_2014
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This document lists recent legal landmarks from income tax authorities and courts. It summarizes 6 cases: 1) Expenses promoting a holding company's products were allowed as sales promotion. 2) An institution teaching Arabic was exempt despite students' dress code adhering to Islamic rules. 3) The AO cannot deny a Section 54F exemption while processing a return under Section 143(1). 4) Recovery proceedings must be disposed of within the prescribed time if an appeal decides the time of recovery.
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- 1. VOLUME NO.: LLAT/741 OF 2016-17 DATE: 3 May 2014 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 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 37(1) ITA Expenses incurred for advertising product of holding company in Indian sub-continent were sales promotion expenses allowable under section 37(1). 1.2 41TM007 Deduction SAP India (P.) Ltd 2.1 CHENN ITAT 10(23C) 12A ITA Exemption to institution teaching Arabic language was educational in nature and said claim could not be rejected merely on ground that its students had specific dress code accordingly to Islamic specifications 2.2 41TM008 Exemption Madarasa E-Bakhiyath-Us- Salihath Arabic College 3.1 CHEN ITAT 143 54F 154 ITA Power to deny sec. 54F exemption was not with AO while processing return u/s 143(1). 3.2 41TM012 Assessment Ms. Susiela Natarajan 4.1 KAR HC 225 220 ITA Pending appeal is to be disposed of within prescribed time as the same would decide time of recovery proceedings. 4.2 41TM013 Collection and Recovery S.N. Ravikumar 5.1 DEL ITAT 92C ITA Where A had been receiving advance payments as compared to its comparables which were having sundry debtors in such a situation working capital adjustment was to be given to A. 5.2 41TM014 Transfer Pricing Cash Edge India (P.) Ltd 6.1 BOM HC 127 ITA A had substantial transactions with S group entities whose assessments were pending before DC Delhi there was valid reason to transfer As case. 6.2 41TM015 Power to transfer Aamby Valley Ltd