Legal Landmarks

1. VOLUME NO.: LLAT/807 OF 2016-17 DATE: 19 July 2014
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Dear Client,
We have pleasure in listing below some of the recent legal landmarks.
SrNo Authority Section/Rules RATIO(S)
Citation /Subject CASE(NAME OF ASSESSEE)
1.1 DEL ITAT 9 271(1)(c) ITA
Concealment penalty was leivable on foreign co. as its liaison office was engaged in
commercial activities.
1.2 44TM436 Penalty
General Electric International Operations Company Inc
2.1 ALLBD HC 37(1) ITA
Business expenses was allowable on commission paid rationally by a distributor to
its sub-distributor.
2.2 42TM415 Deduction
General Trading Co
3.1 DEL ITAT 263 37(1) ITA
Order of revision quashed when the basis of same was completely distinguished
from grounds laid down in notice.
3.2 42TM552 Revision
Genesis Colors (P.) Ltd
4.1 MUM ITAT 5 ITA
Where A is following mercantile accounting system he has to offer income to tax on
accrual basis even if not received.
4.2 66TM295 Accrual Income
Girish M. Kothari
5.1 BOM HC 127 ITA
Where A has given time to file his submissions preponment of hearing would not
invalidates valid transfer order.
5.2 42TM248 Power of ITA
Global Energy (P.) Ltd
6.1 DEL HC 147 148
Reasons of reassessment must specifically indicate as to which material fact was
not disclosed by A in the course of its original assessment .
6.2 WP(C) 747_2014 Reassessment
Global Signal Cables (I) Pvt. Ltd