ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
ISSUE DATED 14-3-2011 Volume 8 Part 2
APPELLATE TRIBUNAL ORDERS
>> Where Tribunal confirming addition finding explanation of assessee that cash seized belonged to company not bona fide, penalty leviable : Harish Dargan v. Dy. CIT (Delhi) p. 125
>> Application for rectification of order on application for rectification not permissible u/s. 254(2) : Padam Prakash (HUF) v. ITO (Delhi) [SB] p. 135
>> Bad debts written off not a factor to determine ALP of international transactions u/r. 10B : C. A. Computer Associates P. Ltd. v. Dy. CIT (Mumbai) p. 142
>> Litigation expenses on criminal proceedings against actor in his individual capacity not deductible u/s. 37 : Dy. CIT v. Salman Khan (Mumbai) p. 150
>> Stock broker : Sums receivable from clients allowable deduction u/s. 36(2) : Bhavik Rajesh Khandra Share and Stock Brokers P. Ltd. v. Dy. CIT (Mumbai) p. 155
>> International transactions : Interest on outstandings to be calculated for overflow period after allowing interest-free period, proper : Logix Micro Systems Ltd. v. Asst. CIT (Bangalore) p. 159
>> International transactions : Dispute Resolution Panel must consider submissions of assessee and pass speaking order : GAP International Sourcing India P. Ltd. v. Dy. CIT (Delhi) p. 177
>> Lease income exploitation of property income from house property : Asst. CIT v. T & R Welding Products (India) Ltd. (Chennai) p. 181
>> Carried forward business loss cannot be set off against lease income : Asst. CIT v. T & R Welding Products (India) Ltd. (Chennai) p. 181
>> International transactions : TPO cannot take up other transactions suo motu for verification and suggest adjustments : Amadeus India P. Ltd. v. Asst. CIT (Delhi) p. 187
>> Pre-weaving machines not covered under block III (6) of Appendix I , assessee entitled to depreciation at normal rate : Eagle Synthetics P. Ltd. v. ITO (Ahd) p. 211
>> Search and seizure : Failure to mention section 158BD in notice not fatal, defect in notice curable u/s. 292B : Asst. CIT v. Dilip Kumar Balar (Bangalore) p. 229
Please and immedietly remove my email id from your contact list. As I do not want to receive any invitation from the various friend sites you subscribe.
Thanks and regards.
Me on net : http://rajkumaratthenet.blogspot.com/
Virus Warning: Although the I have taken reasonable precautions to ensure no viruses are present in his email, sender (I) cannot accept responsibility for any loss or damage arising from the use of this email or attachment."