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VOLUME NO.: LLAT/ 455 OF 2011-12                                                                  DATE: 21st February, 2012
­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ 
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   Del – ITAT         12, ITA                       Contributions received by 'A'-school from students towards
                                                           benevolent fund and development fund was its income where 'A'
                                                           had not created any benevolent fund account and there was no
                                                           condition stipulated in alleged donation made by parents that it
                                                           would be towards corpus donation.
    1.2   17 TM 243          Ch.Trust                      Laxman Public School Society

    2.1   Del HC             80HHC, ITA                    Matter remanded where Tribunal allowed deductions by
                                                           following decision of Special Bench which has been overruled.

    2.2   17 TM 249          Deduction                     Paramount Impex

    3.1   Kar HC             10A, ITA                      While computing relief u/s 10A, expenditure incurred by 'A' has
                                                           to be excluded from its total turnover also, if same is reduced
                                                           from export turnover

    3.2   17 TM 250          Sp.Provision                  Samsung Electronics


    4.1   Chen – ITAT        80-IA, ITA                    Where 'A's windmills claimed deduction u/s 80-IA, profits of
                                                           windmills to be calculated on basis of price at which Electricity
                                                           Board supplied electricity to industrial undertaking and not on
                                                           basis of price at which 'A' supplied electricity to Electricity Board.

    4.2   17 TM 254          Deduction                     Eveready Spinning Mills


    5.1   Del – ITAT         80G, ITA                      Charitable Institution's application, seeking renewal of approval
                                                           u/s 80G could not be rejected by Director (Exemptions), unless
                                                           approval was specifically withdrawn.

    5.2   17 TM 258          Deduction                     Astha Foundation


    6.1   Mad HC             12, ITA                       A'-society formed with objects to propagate non-violence and
                                                           tenets of truth as preached by Tirthankar Bhagwants, was
                                                           entitled to registration u/s 12AA


    6.2   17 TM 261          Ch. Trust                     JITO Chennai Chapter


                                                                                                                                 Contd..




                                                                        1
VOLUME NO.: LLAT/ 455 OF 2011-12                                                                  DATE: 21st February, 2012
­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­


  SR. AUTHORITY               SECTION / RULES /                                         RATIO(S)
  NO. CITATIONS                  SUBJECT                                         CASE(NAME OF ASSESSEE)

  7.1    Kar HC               10A, ITA                      While computing relief u/s 10A, expenditure incurred by 'A' has
                                                            to be excluded from total turnover if same is reduced from
                                                            export turnover

  7.2    17 TM 263            Sp. Provision                 Himatsingka Seide


  8.1    Del – ITAT           92C, ITA                      The only one price has been determined notwithstanding the
                                                            fact that two comparables were used. Therefore, on the plain
                                                            language of the provision, the adjustment as sought is not
                                                            admissible.

  8.2    2012-TII-08          ALP                           Vipin Enterprises



    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.
                  Mumbai Office- 334, Mulratna 1st Floor Narshi Natha Street Masjid (W) Mumbai 40009
                   Tel -022- 23400882 • Fax-022-23420195 • E-mail: amcon.mumbai@amcount.com
                    Pune Office –B/5 Shardaram Park, 34, Sasson Road, Near Jehangir Hospital, Pune - 411
                                                      001
                    Tel-020 6401 3124 • Fax 020- 30521223•E-mail: amcon.pune@amcount.com
                                          Gram-MATERPLAN <--> MASTERPLAY
                                          Website:www.amcount.com



                                                                             2

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LL 455

  • 1. VOLUME NO.: LLAT/ 455 OF 2011-12 DATE: 21st February, 2012 ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­  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 Del – ITAT 12, ITA Contributions received by 'A'-school from students towards benevolent fund and development fund was its income where 'A' had not created any benevolent fund account and there was no condition stipulated in alleged donation made by parents that it would be towards corpus donation. 1.2 17 TM 243 Ch.Trust Laxman Public School Society 2.1 Del HC 80HHC, ITA Matter remanded where Tribunal allowed deductions by following decision of Special Bench which has been overruled. 2.2 17 TM 249 Deduction Paramount Impex 3.1 Kar HC 10A, ITA While computing relief u/s 10A, expenditure incurred by 'A' has to be excluded from its total turnover also, if same is reduced from export turnover 3.2 17 TM 250 Sp.Provision Samsung Electronics 4.1 Chen – ITAT 80-IA, ITA Where 'A's windmills claimed deduction u/s 80-IA, profits of windmills to be calculated on basis of price at which Electricity Board supplied electricity to industrial undertaking and not on basis of price at which 'A' supplied electricity to Electricity Board. 4.2 17 TM 254 Deduction Eveready Spinning Mills 5.1 Del – ITAT 80G, ITA Charitable Institution's application, seeking renewal of approval u/s 80G could not be rejected by Director (Exemptions), unless approval was specifically withdrawn. 5.2 17 TM 258 Deduction Astha Foundation 6.1 Mad HC 12, ITA A'-society formed with objects to propagate non-violence and tenets of truth as preached by Tirthankar Bhagwants, was entitled to registration u/s 12AA 6.2 17 TM 261 Ch. Trust JITO Chennai Chapter Contd.. 1
  • 2. VOLUME NO.: LLAT/ 455 OF 2011-12 DATE: 21st February, 2012 ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ SR. AUTHORITY SECTION / RULES / RATIO(S) NO. CITATIONS SUBJECT CASE(NAME OF ASSESSEE) 7.1 Kar HC 10A, ITA While computing relief u/s 10A, expenditure incurred by 'A' has to be excluded from total turnover if same is reduced from export turnover 7.2 17 TM 263 Sp. Provision Himatsingka Seide 8.1 Del – ITAT 92C, ITA The only one price has been determined notwithstanding the fact that two comparables were used. Therefore, on the plain language of the provision, the adjustment as sought is not admissible. 8.2 2012-TII-08 ALP Vipin Enterprises 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. Mumbai Office- 334, Mulratna 1st Floor Narshi Natha Street Masjid (W) Mumbai 40009 Tel -022- 23400882 • Fax-022-23420195 • E-mail: amcon.mumbai@amcount.com Pune Office –B/5 Shardaram Park, 34, Sasson Road, Near Jehangir Hospital, Pune - 411 001 Tel-020 6401 3124 • Fax 020- 30521223•E-mail: amcon.pune@amcount.com Gram-MATERPLAN <--> MASTERPLAY Website:www.amcount.com 2