This document provides a summary of recent legal landmarks related to taxation in India. It lists 6 cases from various High Courts and Income Tax Appellate Tribunals across the country. For each case, it provides the authority, section/rules discussed, key ratio or legal principle established, citation details, and name of the taxpayer involved. The document summarizes some of the recent important judicial decisions that help interpret various provisions of India's Income Tax Act.

1. VOLUME NO.: LLAT/823 OF 2016-17 DATE: 7 August 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 45 ITA
Income from sale of shares treated as CG even when it witnessed higher frequency
of transactions
1.2 42TM125 Busi.Inc
Nita M. Patel
2.1 HYD ITAT 69B ITA
Post-dated cheque from investee as security for a committed future profit cant be
taxed without actual accrual
2.2 42TM127 UDI
S. Narayan Reddy
3.1 ALLBD HC 4 ITA
Income from deposits couldnt be added to as income as it was only a custodian of
such deposits
3.2 42TM133 Busi.Inc
Sahara India (Firm) Lucknow
4.1 JODH ITAT 268A ITA
Instruction specifying minimum tax effect to admit an appeal is applicable to pending
cases as well
4.2 42TM137 Appeal
Rajesh Nalwaya
5.1 MUM ITAT 92C ITA
No hypothetical TP adjustment to be made when correct amount can be ascertained
5.2 42TM139 TP
Nimbus Communication Ltd
6.1 DEL HC 50B ITA
Sum received on sale of business as going concern wasnt non-compete fee even if
buyer didnt define its nature
6.2 42TM146 Busi.Inc
Sangeeta Wig