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VOLUME NO.: LLAT/ 499 OF 2012-13                                                                  DATE: 13th June, 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     Kar Trib               10, ITA                       Deduction u/s 10A is admissible on the capital gain if treated
                                                             by the AO as business income

1.2     18 TM 76               Busi. Inc                     Infosys Technologies Ltd.

2.1     Del Trib               194, ITA                      No tax deduction u/s 194H, if relationship of principal and
                                                             agent is not established

2.2     16 TM 343              Prof. Fees                    SRL Ranbaxy Ltd.


3.1     Mum Trib               194, ITA                      S. 194-I can be invoked if payer has some element of control
                                                             over the asset

3.2     18 TM 150              Prof. Fees                    Chhattisgarh State Electricity Board

4.1     Mum Trib               194, ITA                      Where sponsorship money is paid for a conference after its
                                                             conceptualization, it cannot be said to have been organized
                                                             at the instance of the sponsors and, hence, section 194C(2)
                                                             cannot be invoked

4.2     18 TM 36               Prof. Fees                    Dr. Raju L. Bhatia

5.1     Mum Trib               14, ITA                       Disallowance u/s 14A is not warranted if income is computed
                                                             under Tonnage Taxation Scheme

5.2     17 TM 112              Busi. Exp                     Varun Shipping Co. Ltd.

6.1     Del Trib               10, ITA                       An educational institution being not recognized by any
                                                             university or Board, cannot be the grounds for denying
                                                             exemption u/s 10(23C)(vi)

6.2     17 TM 49               Busi. Inc                     Delhi Music Society

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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LLAT 499

  • 1. VOLUME NO.: LLAT/ 499 OF 2012-13 DATE: 13th June, 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 Kar Trib 10, ITA Deduction u/s 10A is admissible on the capital gain if treated by the AO as business income 1.2 18 TM 76 Busi. Inc Infosys Technologies Ltd. 2.1 Del Trib 194, ITA No tax deduction u/s 194H, if relationship of principal and agent is not established 2.2 16 TM 343 Prof. Fees SRL Ranbaxy Ltd. 3.1 Mum Trib 194, ITA S. 194-I can be invoked if payer has some element of control over the asset 3.2 18 TM 150 Prof. Fees Chhattisgarh State Electricity Board 4.1 Mum Trib 194, ITA Where sponsorship money is paid for a conference after its conceptualization, it cannot be said to have been organized at the instance of the sponsors and, hence, section 194C(2) cannot be invoked 4.2 18 TM 36 Prof. Fees Dr. Raju L. Bhatia 5.1 Mum Trib 14, ITA Disallowance u/s 14A is not warranted if income is computed under Tonnage Taxation Scheme 5.2 17 TM 112 Busi. Exp Varun Shipping Co. Ltd. 6.1 Del Trib 10, ITA An educational institution being not recognized by any university or Board, cannot be the grounds for denying exemption u/s 10(23C)(vi) 6.2 17 TM 49 Busi. Inc Delhi Music Society 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