1. VOLUME NO.: LLAT/ 457 OF 2011-12 DATE: 23rd February, 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 254, ITA Decision of Third Member of Tribunal is not a final order as
contemplated under the provision and, therefore, an
application would not lie against his decision
1.2 18 TM 16 Order Telco Dadajee Dhackjee
2.1 Mum – ITAT 143, ITA A housing society & developer entered into a development
agreement where under old building was demolished and new
multi-storeyed building was built, compensation paid to 'A'-
member in addition to allotment of flat & displacement
compensation was a capital receipt.
2.2 18 TM 31 Assessment Kushal K. Bangia
3.1 Bang – ITAT 92, ITA TP provision has not provided for any cut off date up-to which
only the information available in public domain has to be taken
into consideration by the TPO, while making the TP
adjustments and arriving at arm's length price.
3.2 18 TM 32 ALP Kodiak Networks (India)
4.1 Mum - ITAT 92, ITA When there is no break up of expenses as between own
research and contract research in the case of one comparable
and there is no break up of expenditure relating to sale of
compounds and contract research in the case of another, an
upward and downward adjustment should be made to the
operating profit margin- proportionate disallowance can be
made in respect of interest-free security deposit in respect of a
flat taken on leave and license basis for providing
accommodation to the Managing Director of a group company.
4.2 2012-TII-10 ALP Monsanto Holdings
5.1 Mad – HC 143, ITA Business expenditure and the business loss can be set off
against the income from the house property after the closure
of the business in the earlier years. The benefit of S 71 would
be available to the 'A' in the event there had been unity of
control and management in respect of a composite business.
5.2 2012-TIOL-92 Assessment Madras Electrical Conductors
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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