This document provides a summary of recent legal landmarks from various authorities: 1. The Mumbai ITAT ruled that admitting undisclosed income for one year does not mean undisclosed income was earned in earlier years as well. 2. The Bombay High Court ruled that financial hardship need not be considered for a stay application if the case was against the revenue as per a Superior Forum. 3. The Delhi ITAT ruled that a fixed place permanent establishment is not established if the premises of the Indian affiliate are not at the disposal of the foreign entity.

1. VOLUME NO.: LLAT/845 OF 2016-17 DATE: 2 September 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 MUM ITAT 143(3) ITA
Fact that A admitted undisclosed income for one year does not mean that AO can
assume that similar undisclosed income is earned in earlier years as well
1.2 ITA No 711_2011 Assessment
Uday C Tamhankar
2.1 BOM HC 220 251 ITA
Financial hardship need not be considered in stay application if case was against
revenue as per Superior Forum
2.2 55TM307 Collection and recovery
Mumbai Metropolitan Region Development Authority
3.1 DEL ITAT 9(1)(i) ITA
Fixed place PE not established if premise of the Indian affiliate not at the disposal of
foreign entity
3.2 67TM105 Deemed Income
Vertex Customer Management Ltd
4.1 BOM HC 36(1)(iii) 37(1) ITA
Forex loss on advances to be calculated on closing of FY and not in later years when
transaction got crystallized
4.2 63TM102 Deduction
Vassantram Mehta & Co. (P.) Ltd
5.1 HYD ITAT 92CA(3) ITA
Fraud in determination of LIBOR/ EURIBOR no reason to discard it as ALP
5.2 ITA No 1159_2013 Transfer Pricing
Vijay Electricals Limited
6.1 PANJ ITAT 194C 40(a)(ia) ITA
Freight to C&F agent wasnt reimbursement and liable to TDS as agent didnt made
TDS while making payment to Airlines
6.2 62TM168 TDS
Zephyr Biomedicals