1. VOLUME NO.: LLAT/ 510 OF 2012-13 DATE: 26th June, 2012
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Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SR. AUTHORITY SECTION / RULES / RATIO(S)
NO. CITATIONS SUBJECT CASE(NAME OF ASSESSEE)
1.1 MUM ITAT 9, ITA Satellite payment by Indian entity to US entity-retrospective
amendments to section 9(1)(vi) by the Finance Act, 2012
fruitless since no changes made to DTAA with USA
1.2 21 TM 529 DTAA B4U International Holdings Ltd.
2.1 DEL HC 2(22), ITA Amount received by a firm from a company in which partners
of firm were holding more than 10% shares, is to be treated as
deemed dividend
2.2 21 TM 543 Deemed Div Bharti Overseas Trading Co
3.1 MAD HC 43B, ITA The overdue interest payable by 'A' had been converted into
loan amount and there was no actual payment of interest, S
43B deduction would not be allowed
3.2 21 TM 544 Sp. Provision Lotus Roofings (P.) Ltd
4.1 COCH ITAT 147, ITA The 'A' intimates AO that original return may be treated as one
filed in response to notice issued u/s 148, in such a case, AO
is duty bound to issue notice u/s 143(2) before passing
assessment order u/s 143(3).
4.2 21 TM 545 Assessment V.R. Sreekumar
5.1 CHTSG HC 260A, ITA Findings that assessment order passed by AO could not be
categorized as best judgment assessment were mere findings
of facts
5.2 21 TM 546 Appeal Jagdish Prasad Bansal
6.1 DEL ITAT 2(14), ITA Antique or decorative items and collectors items cannot be
classified as personal effects. If the 'A' has made any collection
which might give him solace or pleasure whenever he looks at
the collection, such collection cannot be classified as 'personal
effects'.
6.2 22 TM 1 Bus. inc Faiz Murtaza Ali
Please let us know if you need any further information on these.
Thanking you and assuring you of our best services at all times.
Yours Faithfully,
For Anand Mehta & Co .,
(CONSULTANTS) PVT. LTD.
Anand V. Mehta
DIRECTOR
A mind of a consultant with a heart of a friend.
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