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- Vol I for CA May 2010 Exam
Vol I for CA May 2010 Exam
Recent Case Laws (DT) for CA May 2010 Exam |
(For detail, please click here)
Sec. |
Decision | Case |
|---|---|---|
32
| No
depreciation is allowable on the stock exchange membership card
acquired either by nomination or directly through stock exchange on or
after 1.4.1998 | CIT -vs.- Techno
Shares & Stocks Ltd (BOM)
|
37/31
| In
textile mills, each separate machine is an independent entity;
replacement of such an old machine with a new one would constitute
bringing into existence of a new asset in place of old one and not
repair of old and existing machine; such replacement expenditure would
be capital in nature. |
CIT -vs.-
Sri Mangayarkarasi Mills (P) Ltd., (SC.)
|
245Q
| Indian sub-contractor's workplace cannot be treated as workplace of foreign enterprise and duration of work done by sub-contractor (whether more than sixty days or not) can also not be attributed to such non-resident | Pintsch Bamag, In re, (AAR) |
194-I
| Where assessee shares fees collected from students with franchisee and a part of such share is on account of infrastructure facility provided by franchisee, payment related to infrastructure cannot be treated as rent, and thus assessee was not liable to TDS under section 194-I | CIT -vs.- NIIT
Ltd (DEL) |
80IB
| Duty drawback receipt/DEPB benefits do not form part of the net profits of eligible industrial undertaking for the purposes of Sections 80-I/80-IA/80-IB |
Liberty India -vs.-
CIT (SC) |
80G
| Where
a trust imparting education is otherwise qualified for exemption under
sections 11 and 12, it cannot be denied registration merely on ground
that it is charging some fees |
Gaur Brahmin Vidya
Pracharini Sabha -vs.- CIT (Delhi-Trib.)
|
194H
| If
cellular telephone service provider allows some margin to distributors
in form of discount/ commission on market price of prepaid cellular
connection and recharge coupons, such margin cannot be termed as
'commission' attracting deduction of tax at source under section 194H.
| ACIT -vs.- Idea
Cellular Limited (Hyd. " Trib.) |
271(1)(c)
| Penalty
spoken of in Section 271(1)(c) is neither criminal nor quasi-criminal
but a civil liability; albeit a strict liability; such liability being
civil in nature, mens rea
is not essential
| CIT -vs.- Atul
Mohan Bindal (SC) |
194J
| In field of health insurance, it is Third Party Administrator (TPA), and not insurance company, who pays amounts to hospitals, TPA is required to deduct tax at source under section 194J | The Medi Assist India TPA P. Ltd.
- vs.- DCIT (KAR)
|
10(22)
| State
text book corporations are constituted to implement education policy of
States and, consequently, should be treated as educational institution
| Assam State Text Book Production and
Publication Corporation Ltd. -vs.- CIT (SC)
|
80IB
| Integrated activities of processing, preservation and packaging of fruits or vegetables are embraced within scope of sub-section (11A) of Section 80-IB. | Mrs. Delna Rustum Boyee, In Re, (AAR)
|
154 |
Period of limitation provided under section 154 is to be reckoned from date of fresh order under section 143(3) giving effect to order of appellate authority | CIT -vs.- Tony
Electronics Ltd. (DEL) |
172 |
Shipping profits are not covered by DTAA between India and Switzerland and they have to be taxed under domestic Law; freight income received by Swiss ship operator on account of carrying cargo from Indian ports to foreign ports by deploying chartered vessels is liable to be taxed in India under provisions of the Income-tax Act, 1961 | Gearbulk AG, In re, (AAR)
|
195 |
Where US company provides centralised assistance to its Indian subsidiary and most of services are managerial in nature and further, US company does not 'make available' to Indian subsidiary technical knowledge, etc., within the meaning of Article 12.4(b) of Treaty, payment to be made by Indian company towards cost allocated by US company will not be taxable in India. | Invensys Systems Inc., In re, (AAR)
|
273A |
Party applying for reduction/waiver of penalty/interest must make out a case of genuine hardship | Shardadevi P. Jhunjhunwala -vs.- CIT (BOM) |
273A |
In so far as section 273A(1) is concerned, disclosure must be voluntary; where a diary found during search contained incriminating material based upon which additional income was disclosed, merely because assessee co-operated in deciphering documents would not mean that revenue authorities could not have deciphered same and, thus, it was not a fit case for reduction/waiver of penalty/ interest | Shardadevi P. Jhunjhunwala
-vs.- CIT (BOM)
|
9 |
Where US Company granted Indian Company a perpetual irrevocable right to use know-how and transferred ownership in tread and sidewalk designs/patterns ( TSD ) required for manufacturing radial tyres, consideration for know-how is taxable in India while that for TSD transfer is not taxable; further, consideration received for consul- tancy, assistance and training is also taxable | International Tire Engineering, In re,
( AAR ) |
37 |
Claim for depreciation on account of enhanced cost due to fluctuation in foreign exchange rate is admissible for deduction under section 37. | CIT -vs.- Maruti
Udyog Ltd. (SC) |
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