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VOLUME NO.: LLAT/ 466 OF 2011-12                                                                  DATE: 6th March, 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    MUM – ITAT             CCR 2004                     Telephone installed at the residence of the partners – Bills
                                                           paid by the firm – CENVAT credit on such telephone service
                                                           availed – Claimed that the telephone is used for business
                                                           purpose – Credit held admissible

1.2    24 STR 30              CENVAT Credit                BASP Industries

2.1    Hyd HC                 41, ITA                      Section 41(1) – Remission or Cessation of Trading Liability –
                                                           On settlement of dispute the cost of machinery had reduced
                                                           by two crore – Depreciation allowed in earlier years on two
                                                           crore cannot be taxed u/s.41(1) or 41(2)

2.2    130 ITD 46             Busi.Exp                     Binjrajka Steel Tubes Ltd.

3.1    Bang HC                CCR 2004                     A' availed    credit relating to capital goods used in provision               of
                                                           service –     Revenue claimed that the credit was availed                      in
                                                           excess of     20% of the tax paid every month – Application                    of
                                                           restriction    held erroneous – Credit allowed by way of                        a
                                                           remand.
3.2    24 STR 86              CENVAT Credit                BSNL

4.1    Kar HC                 132(1), ITA                  The Tribunal has power to examine the validity of the search
                                                           in an appeal against the 'a' order passed pursuant to search.
4.2    244 CTR 126            Search                       C. Ramaiah Reddy

5.1    DEL HC                 44, ITA                      Presumptive taxation-Determination of profit – revenue, can
                                                           not paid determination of profit in excess of ten per cent
5.2    40(I) ITCL 304         Sp.Provision                 DSD Noell Gmbh

6.1    MUM – ITAT             148, ITA                     A's appeal allowed by the CIT(A) on merits – In the appellate
                                                           proceedings, the 'a' can challenge the validity of the
                                                           reassessment proceedings

6.2    ITA Nos. 3088          Reassessment                 Duratex Export

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

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LL 466

  • 1. VOLUME NO.: LLAT/ 466 OF 2011-12 DATE: 6th March, 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 MUM – ITAT CCR 2004 Telephone installed at the residence of the partners – Bills paid by the firm – CENVAT credit on such telephone service availed – Claimed that the telephone is used for business purpose – Credit held admissible 1.2 24 STR 30 CENVAT Credit BASP Industries 2.1 Hyd HC 41, ITA Section 41(1) – Remission or Cessation of Trading Liability – On settlement of dispute the cost of machinery had reduced by two crore – Depreciation allowed in earlier years on two crore cannot be taxed u/s.41(1) or 41(2) 2.2 130 ITD 46 Busi.Exp Binjrajka Steel Tubes Ltd. 3.1 Bang HC CCR 2004 A' availed credit relating to capital goods used in provision of service – Revenue claimed that the credit was availed in excess of 20% of the tax paid every month – Application of restriction held erroneous – Credit allowed by way of a remand. 3.2 24 STR 86 CENVAT Credit BSNL 4.1 Kar HC 132(1), ITA The Tribunal has power to examine the validity of the search in an appeal against the 'a' order passed pursuant to search. 4.2 244 CTR 126 Search C. Ramaiah Reddy 5.1 DEL HC 44, ITA Presumptive taxation-Determination of profit – revenue, can not paid determination of profit in excess of ten per cent 5.2 40(I) ITCL 304 Sp.Provision DSD Noell Gmbh 6.1 MUM – ITAT 148, ITA A's appeal allowed by the CIT(A) on merits – In the appellate proceedings, the 'a' can challenge the validity of the reassessment proceedings 6.2 ITA Nos. 3088 Reassessment Duratex Export 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