Legal Landmarks

1. VOLUME NO.: LLAT/839 OF 2016-17 DATE: 27 August 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 KER HC 194C ITA
Sums payable on purchase of raw materials couldnt be included in undisclosed
income during block assessment
1.2 46TM373 TDS
P.M. Kunhammed
2.1 HYD ITAT 68 ITA
No TP adjustment when average mean margin earned by comparables was lower
than profit margin earned from AE
2.2 51TM238 Cash Credit
Parexel International (India) (P.) Ltd
3.1 HYD ITAT 115J ITA
Even genuine transactions go through rigours of S 50C provision applicable if stamp
value exceeds actual price
3.2 45TM327 MAT
Smt. Chitti Parvatha Vardhanamma
4.1 ALLBD HC 143 ITA
Interest accrued under Deferred Payment Plan couldnt escape tax net by crediting it
to suspense account
4.2 44TM482 Assessment
U.P. Chalchitra Nigam Ltd
5.1 HYD ITAT 2(m) ITA
Renouncing of right to purchase a property in lieu of a sum was transfer to be taxed
as capital gains
5.2 47TM334 Cap. Gain
P. Ramgopal Varma
6.1 PUN ITAT 2(29A) ITA
Additions on basis of info extracted form loose paper found in search proceedings of
third party set aside
6.2 47TM293 Cap. Gain
Pradeep Amrutlal Runwal