Legal Landmark 515 by amcount


									 VOLUME NO.: LLAT/ 515 OF 2012-13                                                                  DATE: 2nd July, 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   Del Trib                 49, ITA                    Indexation benefit available in S.49 cases from the date the
                                                          capital asset was held by previous owner (PO) not merely from
                                                          date the 'a' acquires it from PO. The expression “held by the a”
                                                          to S. 48 should be interpreted to include the period during
                                                          which the property was held by the PO.

1.2   18 TM 261                Bus inc                    Arun shungloo Trust

2.1   Del Trib                 68, ITA                    Where share application money entry racket is unearthed,
                                                          burden of proof u/s 68 not discharged by merely submitting
                                                          documentary evidence.

2.2   18 TM 217                Cash Credit                Nova Promoters & Finlease (P.) Ltd

3.1   Hyd Trib                 54F, ITA                   No exemption u/s 54F is allowed if new house is purchased
                                                          through borrowed funds

3.2   18 TM 265                Cap. Gain                  Smt. V. Kumuda

4.1   Del Trib                 9, ITA                     Merely because “a”, a US company, appointed agents in India
                                                          and also opened liaison offices in India, it could not be said that
                                                          “a” had a PE in India

4.2   18 TM 306                DTAA                       Western Union Financial Services Inc.

5.1   AAR                      9, ITA                     Payment received by an Australian company, from its Indian
                                                          distributor for sale of applicant's software product in India, is

5.2   18 TM 172                DTAA                       Citrix Systems Asia Pacific Pvt. Ltd.,

6.1   Vish Trib                254, ITA                   Order of Tribunal is binding on all tax authorities unless its
                                                          operation is suspended by High Court

6.2   18 TM 101                Order                      Cargo Handling (P.) Workers Pool

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

                      A mind of a consultant with a heart of a friend.
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