Legal Landmark 528

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Legal Landmark 528 Powered By Docstoc
					VOLUME NO.: LLAT/ 528 OF 2012-13                                                                  DATE: 17h 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   GUJ HC                  41, ITA                      The amount of credit had been continuously shown by 'A' in its
                                                           balance sheet year after year it is not possible to conclude that
                                                           debt is barred and has become unenforceable so as to make
                                                           addition to 'A's income.
1.2   22 TM 120               Busi .Inc                    Miraa Processors (P.) Ltd

2.1   DEL ITAT                9, ITA                       The non-resident received royalty income from an Indian
                                                           concern, the gross amount of royalties taxable as per the
                                                           treaty would include the taxes paid by the licensee in the light
                                                           of S 10(6A).

2.2   2012-TII-59             DTAA                         PIZZA HUT INTERNATIONAL LLC

3.1   HYD ITAT                10A, ITA                     Communication charges, insurance charges and professional
                                                           fee once excluded from the export turnover, is also required to
                                                           be excluded from total turnover for maintaining the principle of

3.2   2012-TIOL-312           Sp. Provision                Microsoft Global Services Centre P Ltd

4.1   BANG ITAT               115WB, ITA                   The expenses incurred on sales promotion, conveyance, tour
                                                           and travel and gifts incurred in the course of business and not
                                                           paid to employees are covered under the deeming provision of
                                                           S 115WB(2) and will be considered as fringe benefit ever
                                                           though there was no employer and employee relationship.
4.2   2012-TIOL-313           Fringe Benefits              M/s Toyota Kirloskar Motor Pvt Ltd

5.1   BANG ITAT               80IB, ITA                    When the 'A' has completed the project and requested to the
                                                           local authority to issue occupancy certificate and the
                                                           completion of project is acknowledged by the authority within
                                                           the time limit allowed and only the certificate is received later
                                                           on, the deduction u/s 80IB cannot be denied.

5.2   2012-TIOL-314           Deduction                    M/s RNS Infrastructure Ltd

6.1   MAD HC                  234B, ITA                    The amount collected by the 'A' as refundable contingency
                                                           deposit in respect of disputed items of sales tax before the
                                                           HC, which was not returned even after the favourable order by
                                                           the HC, is to be considered as trading receipt and taxable.
6.2   2012-TIOL-441           Interest                     Elgi Electric & Industries Pvt Ltd

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.
               Mumbai Office- 334, Mulratna 1st Floor Narshi Natha Street Masjid (W) Mumbai 40009
                Tel -022- 23400882 • Fax-022-23420195 • E-mail:
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                  Tel-020 6401 3124 • Fax 020- 30521223•E-mail:
                                        Gram-MATERPLAN <--> MASTERPLAY

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