1. VOLUME NO.: LLAT/ 467 OF 2011-12 DATE: 7th March , 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 Hyd HC 92B, ITA Corporate guarantee provided in respect of an AE is not an
international transaction in terms of section 92B of Income-
tax Act.
1.2 ITA No 1495 ALP Four Soft Ltd.
2.1 MUM – ITAT 48, ITA Section 48 of the Income-tax Act, 1961 – Benefit of
indexation is available in respect of preference shares.
2.2 47 SOT 62 Mode of G.D. Metsteel (P.) Ltd.
Computation
3.1 DEL HC 9, ITA Payment of fees for technical services to USA 'A' company
contending throu 'D' contending otherwise but not able to
established 'A' entitled to exception u/s 9(1)(vii)(B) no tax
deductible
3.2 40(II) ITCL 233 Deemed Inc Havells India Ltd.
4.1 DEL HC 65, FA Section 65 and section 66 of the Finance Act, 1994 as
amended by Finance Act, 2010 with retrospective effect from
1-6-2007 are intra vires Constitution of India (Delhi)
4.2 13 TM 188 Total Inc Home Solution Retails (India) Ltd.
5.1 Del ITAT 14A, ITA Section 14A – Rule 8D can be invoked only after AO records
his satisfaction on how the 'a's calculation is incorrect. Onus
is on the AO to show the expenditure has been incurred for
earning tax-free income. Disallowance u/s.14A cannot be
made on the basis of presumptions.
5.2 ITA Nos. 814 Busi.Exp Jindal Photo Limited
6.1 AHM ITAT 9, ITA In the absence of revenue having brought anything on record
to show that 'a' was doing construction work, consideration
received by 'a' was not from doing construction work and
consequently, did not fall within the exclusion of Explanation
2 to section 9(1)(vii). Therefore, the income of 'a' was liable
to tax in terms of section 115A @10%.
6.2 ITA No. 3399 Deemed Inc Joint Stock Company Zangas
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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