1. VOLUME NO.: LLAT/ 493 OF 2012-13 DATE: 22nd May, 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 37, ITA The expenditure has been incurred by the “a” for production of
‘ad-films’, advertisement in electronic and print media, in
respect of promotion of its ‘on-going products’. Hence, the said
expenditure has rightly been treated as revenue in nature
1.2 2012-TII-46 Busi. Exp L'oreal India
2.1 P&H HC 234B, ITA A return is processed u/s 143(1)(a) and, thereafter an
assessment order is passed u/s 147 for first time, said
assessment order would be a regular assessment for purpose
of imposing interest u/s 234B; and if such assessment order is
further revised u/s 263 and assessed income is enhanced, 'A'
would further be liable to interest u/s 234B
2.2 20 TM 792 Interest Nahar Spinning Mills
3.1 Bom HC 269U, ITA After passing of order of pre-emptive purchase, property was
not handed over to Central Government and, in turn, Central
Government decided not to tender to owners purchase price,
said order would be abrogated and property be re-vested with
owners
3.2 21TM94 Preumptive - Pandharinath Bhikaji Telge
Purchase
4.1 Del ITAT 40, ITA Provisions of S. 40A(2)(a) are meant to check evasion of tax
through excessive or unreasonable payments to relatives or
associate concerns and should not be applied in a manner,
which will cause hardship in bona fide cases.
4.2 21TM 135 Busi.Exp Aradhana Beverages & Foods
5.1 Coch ITAT 80HHC, ITA In order to compute deduction under section 80HHC, firstly
attribution of indirect costs to export of trading goods is to be
made and then proportion of trading goods turnover to total
turnover be applied to it.
5.2 21TM 156 Deduction B. Parameswaran Bharathan
6.1 Bang ITAT 10A, ITA While computing the exemption u/s 10A, if the export turnover
in the numerator is to be arrived at after excluding certain
expenses, the same should also be excluded in computing the
export turnover as it is a component of total turnover in the
denominator.
6.2 21TM 160 Exemption Timken Engineering & Research India
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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