The doctrine of harmonious construction under Interpretation of statute
Volume No. LLAT/783 Legal Landmarks
1. VOLUME NO.: LLAT/783 OF 2016-17 DATE: 21 June 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 PANJ ITAT 2(28A) 10(15) 195 ITA
Usance charges paid to non-resident on import purchase by A would be considered
as interest income.
1.2 52TM489 Interest
Bhavani Enterprises
2.1 JHKD HC 37(1) ITA
Where A gave gifts which had companys official rubber stamp imprinted on them
there was an element of advertisement in distribution of said gifts and thus deduction
of expenses incurred on distributing gifts was to be allowed.
2.2 42TM365 Deduction
Bihar Sponge Iron Ltd
3.1 HYD ITAT 2(47) ITA
Developer had not done anything to discharge obligations cast on it capital gains
could not be brought to tax in year under appeal merely on basis of signing of
development agreement.
3.2 45TM115 Transfer
Binjusaria Properties (P.) Ltd
4.1 DEL ITAT 40A(2) ITA
Disallowance could not be made in respect of interest paid to relative as A had paid
higher interest rate on loans as compared to loans from unrelated party.
4.2 59TM106 Disallowance
Bio Med (P.) Ltd
5.1 KOL ITAT 68 263 ITA
Share premium received via banking route would not be genuine unless AO had
made proper enquiries on it.
5.2 52TM305 Income from CC
Bisakha Sales (P.) Ltd
6.1 KAR HC 132 ITA
Since seized materials did not reflect name of A revenue was not justified in drawing
presumption under section 132(4A).
6.2 50TM425 Search Assessment
Blue Lines