Legal landmark 531
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VOLUME NO.: LLAT/ 531 OF 2012-13 DATE: 20 h July, 2012 ------------------------------------------------------------------------------------------------------------------------------------------- Dear Client, We have pleasure in listing below some of the recent legal landmarks. SR. NO. AUTHORITY CITATIONS SECTION / RULES / SUBJECT RATIO(S) CASE(NAME OF ASSESSEE) 1.1 MUM ITAT 9, ITA When for the purpose of supplying, installing and commissioning of telecom equipment, an Indian entity not having requisite personnel, enters into an agreement with a foreign company having experts and technical personnel of desired experience and expertise in telecom related technology and the foreign company provides such personnel, it can be deduced that such personnel are employees of the foreign company. 1.2 2012-TII-55 DTAA AVION SYSTEMS INC 2.1 DEL ITAT 147, ITA For Sec 147(1), in order to reopen an assessment, it is sufficient if in the opinion of the AO, income has escaped assessment while for the proviso, it is necessary further to establish that the same is on account of failure on the part of the 'A' to disclose all facts 2.2 2012-TIOL-301 Reassessment Kyungshin, Industrial Motherson 3.1 DEL HC 147, ITA Re-assessment proceedings can not be initiated on the ground that no amalgamation had taken place in the accounting years ended on 30.6.1983 and 30.6.1984 when as per the scheme of amalgamation the effective date was 1st July, 1982. 3.2 2012-TIOL-430 Reassessment Modipon Ltd 4.1 MUMITAT 92C, ITA If transactions are, in opinion of TPO, not at arm's length, required adjustment has to be made as provided in Act, irrespective of fact that expenditure is allowable under other provisions of Act 4.2 22 TM 107 ALP Deloitte Consulting India (P.) Ltd 5.1 AHD ITAT 40A, ITA Provisions as stood on date of expenses, and not on date of payment, relevant for S. 40A(3) disallowance. 5.2 22 TM 108 Busi. Exp Tushar A Sanghvi (HUF) 6.1 COCH ITAT 28, ITA An industrial infrastructure facility development company can be said to be ready to commence its business when it would be in a position to deliver possession of facilities to industry; and until then no expenditure can be claimed for such business 6.2 22 TM 110 Busi. Exp Rubber Park (P.) Ltd A mind of a consultant with a heart of a friend. Mumbai Office- 334, Mulratna 1 st Floor Narshi Natha Street Masjid (W) Mumbai 40009 Tel -022- 23400882 • Fax-022-23420195 • E-mail: [email protected] Pune Office –B/5 Shardaram Park, 34, Sasson Road, Near Jehangir Hospital, Pune - 411 001 Tel-020 6401 3124 • Fax 020- 30521223•E-mail: [email protected] Gram-MATERPLAN <--> MASTERPLAY Website:www.amcount.com 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
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Transcript of Legal landmark 531
VOLUME NO.: LLAT/ 531 OF 2012-13 DATE: 20h July, 2012 Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SR. NO.
AUTHORITYCITATIONS
SECTION / RULES / SUBJECT
RATIO(S)CASE(NAME OF ASSESSEE)
1.1 MUM ITAT 9, ITA When for the purpose of supplying, installing and commissioning of telecom equipment, an Indian entity not having requisite personnel, enters into an agreement with a foreign company having experts and technical personnel of desired experience and expertise in telecom related technology and the foreign company provides such personnel, it can be deduced that such personnel are employees of the foreign company.
1.2 2012-TII-55 DTAA AVION SYSTEMS INC
2.1 DEL ITAT 147, ITA For Sec 147(1), in order to reopen an assessment, it is sufficient if in the opinion of the AO, income has escaped assessment while for the proviso, it is necessary further to establish that the same is on account of failure on the part of the 'A' to disclose all facts
2.2 2012-TIOL-301 Reassessment Kyungshin, Industrial Motherson
3.1DEL HC
147, ITA Re-assessment proceedings can not be initiated on the ground that no amalgamation had taken place in the accounting years ended on 30.6.1983 and 30.6.1984 when as per the scheme of amalgamation the effective date was 1st July, 1982.
3.2 2012-TIOL-430 Reassessment Modipon Ltd
4.1 MUMITAT 92C, ITA If transactions are, in opinion of TPO, not at arm's length, required adjustment has to be made as provided in Act, irrespective of fact that expenditure is allowable under other provisions of Act
4.2 22 TM 107 ALP Deloitte Consulting India (P.) Ltd
5.1 AHD ITAT 40A, ITA Provisions as stood on date of expenses, and not on date of payment, relevant for S. 40A(3) disallowance.
5.2 22 TM 108 Busi. Exp Tushar A Sanghvi (HUF)
6.1 COCH ITAT 28, ITA An industrial infrastructure facility development company can be said to be ready to commence its business when it would be in a position to deliver possession of facilities to industry; and until then no expenditure can be claimed for such business
6.2 22 TM 110 Busi. Exp Rubber Park (P.) Ltd
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: [email protected]
Pune Office –B/5 Shardaram Park, 34, Sasson Road, Near Jehangir Hospital, Pune - 411 001
Tel-020 6401 3124 • Fax 020- 30521223•E-mail: [email protected]
Gram-MATERPLAN <--> MASTERPLAY
Website:www.amcount.com
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
