This document provides a summary of recent legal landmarks across various authorities and courts in India. It lists 6 rulings covering topics such as whether rental income from a godown on agricultural land constitutes agricultural income, whether service tax reimbursements should be excluded from gross receipts for presumptive income, and whether partners are liable to pay taxes on profits received from a firm that include exempted income. Each ruling summarized includes the authority, section/rules of relevant law, ratio or key consideration of the ruling, and citation and subject details.

1. VOLUME NO.: LLAT/826 OF 2016-17 DATE: 11 August 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 DEL ITAT 263 ITA
Rental income of godown constructed on an agricultural land couldnt be termed as
agriculture income
1.2 42TM434 Busi.Inc
New Jain Godowns
2.1 DEL ITAT 44BB ITA
Reimbursement of service tax is to be excluded from gross receipts for computing
presumptive income
2.2 42TM449 Cap. Gain
Triton Holding Ltd
3.1 MUM ITAT 92C ITA
ALP should be restricted to international transaction which cant be extended to entity
level
3.2 42TM469 TP
Phoenix Mecano (India) (P.) Ltd
4.1 P&H HC 271 ITA
Concealment penalty deleted as interest on FD held by firm was unknowingly
credited in name of partners
4.2 42TM496 Penalty
P. Ram Chand & Co.
5.1 GUJ HC 45 ITA
Agricultural land wont lose its privileges even if sold in violation of State laws
5.2 42TM497 Cap. Gain
Rajshibhai Meramanbhai Odedra
6.1 KAR HC 10(2A) ITA
Partners not liable to pay taxes on share of profits received from firm even if such
profits included exempted income
6.2 43TM001 Busi.Exp
Vidya Investment & Trading Co. (P.) Ltd