1. VOLUME NO.: LLAT/ 496 OF 2012-13 DATE: 8th June, 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 Pune ITAT 54EC, ITA If investment within 6 months of transfer is impossible, then
relief available if investment made within 6 months of
receipt of consideration
1.2 ITA No 594/2010 Cap.Gain Mahesh Nemichandra Ganeshwade
2.1 Del ITAT 92CA, ITA There is no force in the Revenue’s claim that the 'A' was
not required to make any payment to its AE for resolving
warranty claims. The 'A' has the right to enter into an
arrangement according to which its business interests are
protected. It is the prerogative of the 'A' to decide the
business expediency.
2.2 ITA No 5141/2011 ALP Ericsson India
3.1 DEL HC 14A, ITA CIT (A) is right in holding that the income/loss arisen to “a”
from sale and purchase of securities was assessable
under Capital Gains and not Business.
3.2 ITA No 740/2009 Busi.Exp Sahara India Housing
4.1 Mum ITAT 80, ITA The activity of the 'a' i.e., cleaning the beaches, without
being involved in control of generation, disposal, and policy
making cannot be considered as a solid waste
management activity; consequently, 'a' is not eligible for
deduction u/s 80-IA.
4.2 144 TTJ 296 Deduction Antony Motors (P) Ltd.
5.1 Pune ITAT 92, ITA TP adjustments are to be computed not considering the
entity level sales but it should be done ideally considering
the relatable sales drawing the quantitative relationship to
the imports from the AEs, i.e. controlled cost.
5.2 144 TTJ 320 ALP Demag Cranes & Components (India) (P) Ltd.
6.1 Jai ITAT 12, ITA A' trust held entitled to registration u/s 12AA on the ground
that it is not the case of the Revenue that the students who
got scholarship were not belonging to poor families though
belonging to a particular community gains and that even
religious trusts are entitled for registration and therefore
CIT is directed to consider the 'a's application
6.2 144 TTJ 379 Ch. Trust Bhagwan Mahavir Pursharth Prerna Nidhi
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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