Index of compilation of business head recent development
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1 Index of compilation of business head recent development S.N Particulars Page No. o 1. Supreme court in Raj Dadarkar & Associates on head of 1 to 5 taxation for rentals between business and house property head 2. T&AP High court Sri Bharathi Warehousing Corporation on 6 to 9 ratio of SC in Chennai Properties on rentals classification 3. Bombay high court Nagpur Bench in case of Central Provinces 9 to 12 Manganese Ore Company Limited on SC decision in case of Nalinikant Ambalal Mody 61) ITR 0428 with reference to sec.115bbe 4. Allahabad high court on Tax Management concept p in case of 13 to 17 M/S M.I.Builders Pvt. Ltd. Lko. 5. Supreme court in case of Mother Hospital on depreciation & 17,18 owner aspect u/s Kol ITAT in case of Hari Shanker Modi on concept of income 19 to P&H high court in case of Tribune Trust observations on 21,22 income aspect 8. T&AP high court on reopening for abnormal low profits (held 22 to 23 bad) 9. Madras high court in case of Smt. L. Parameswari on expense 24 to 27 allowability u/s 37 & sec.40a(2) approach 10. Delhi high court in Sigma Corp. u/s 40A(2) on related part expense 27,28
2 11. Supreme court in Mc Dowell Case on loss benefit u/s 72A 29 to Supreme court in case of Equinox on slump sale vs sec.50(2) 32 to 35 interplay 13. Supreme court in case of Beger paints on share premium 35 to 41 whether part of capital employed u/s 35D 14. Supreme court in case of Palam Gas Service on sec.40(a)(ia) 41 to 44 paid vs payable issue 15. P&h High court in Gopal Cotton case on tds issue admitting 44,45 first time payee s tax payment details before high court Order 41 Rule 27 of the Code of Civil Procedure, Allahabad high court on corporate veil lifting law discussed at length in case of M/S Sahu Investment Mutual Benefit Co.Ltd. 46 to Madras high court on depreciation on jetty in case of Anand 59 to 61 Transport 18. Delhi high court on depreciation in case of Nalwa Steel Mumbai ITAT in case of KPMG on mutuality aspect 62 to Allahabad high court in U.P.Projects case on unabsorbed 67 to 69 depreciation set off 21. Delhi High court in case of Lakshay Seth on assessment of 69,70 business profits in cash deposits scenario where books not available 22. Calcutta high court in case of Deeplok Financial Services Ltd 71,72 on stock to investment conversion aspect 23. Bombay high court in case of Sushil Gupta on illegal expense 72,73
3 aspect 24. Bombay high court in case of Ganga Developers on expense allowability approach 25. Supreme court in case of A.P.Moller on reimbursement whether income Held No 26. Supreme court in case of Shasun Chemicals on sec.35d & Sec. 40A(9) 27. Bombay high court in case of M/s. Marks & Spencer M/s. Marks & Spencer on reimbursement 28. Kol ITAT in case of Atha Mines Pvt. Ltd. On income set off : head relevance 73, 74 75,76 77 to , Bombay high court in case of Faze Three Ltd on FCCB expense Held revenue 30. Bombay high court in case of Johnson & Johnson Ltd on sec.40a(2) Held burden on revenue 31. Chandigarh ITAT in case of M/s Jain Brothers on deficit cash implications under income tax 82,83 83 to to Madras high court in case of Institute of the Fransican 88 to 100 Missionaries of Mary Rep., by its President on income diversion at source concept 33. Mumbai ITAT in case of Mumbai International Airport P. Ltd on various issues under business head 100 to Allahabad high court in CIT vs ITSC on stock valuation norms 106 to Pune Bench ITAT Kamdhenu Real Estate s Pvt. Ltd on real 111 to 116
4 estate business head expense 36. Mumbai Bench ITAT in case of M/s. Ashish Builders Pvt. Ltd. On interest expense 37 Mumbai ITAT Dow Agrosciences assessee cannot enforce its customers to furnish their PAN 38. Karnataka high court in case ofcit vs G Balraj On issue of difference between sub contract and joint venture and related tax implications under business head 116 to , Bombay high court in case of M/s. KSB Pumps Ltd, in view 120 to 121 of the Court taking note of rapid technological development, purchase of technology may not lead to any enduring benefit as the same may have to be upgraded very soon. 40. Bombay high court in case of M/s. Idea Cellular Ltd. 122,123 the tribunal, therefore, rightly concluded that in series of decisions, the High Courts and the Hon'ble Supreme Court of India has laid down the principle that if an expenditure is incurred for doing the business in a more convenient and profitable manner and has not resulted in bringing any new asset into existence, then, such expenditure is allowable business expenditure. 41. Bombay high court in case of M/S. PUTZMEISTER INDIA 123,124 PVT. LTD genuineness of expense 42. Gujarat high court PARLE INTERNATIONAL LTD 124,125 applying SC in mngalaore Ganesh BeedI Works 43. NATIONAL AGRICULTURAL COOPERATIVE 126 to 127
5 MARKETING FEDERATION OF INDIA LTD. Delhi high court special bench overruled 44. Calcutta high court M/S.SHIVLAXMI EXPORTS LTD. Sticky loans interest taxability position 128, Mumbai ITAT in JSW case on MAT whether the amount of 129 to 137 waiver amount would at all form part of the book profit of the company for the purpose of levy of MAT under section 115JB. 46. Kol bench ITAT in case of Mohata Coal Company Pvt.Ltd on 137,138 foreign education expense of relative 47. Supreme court in case of Rekha Bai on income allocation 138, Supreme court in case PRADEEP SINGH WAZIR on sec.40(a)(ia) in profit estimation scenario 139 to Vizag bench in case of Sri Bharath Kumar Jain on stock valuation 50. Vizag bench in case of Sri M. Gopala Reddy on sec. 44AD aspect 51. Gujarat high court in case of GULMOHAR GREEN GOLF AND COUNTRY CLUB L TD on capital receipt aspect 52. Madras high court in case of Mr.C.Subba Reddy on sec.2(22)(e) 53. Bombay high court in case of M/s. Likproof India P. Ltd on bank pay in slip verses book entries 141 to to to , to 155
6 54. P&H high court in case of M/s Haryana Warehousing Corporation on expense accrual 55. Bombay high court in case of Parmanand Builders Pvt. Ltd...on alternate claim theory & duty of courts & ITAT spelt 56. Delhi high court in case of MACHINTORG (INDIA) LTD on CA vetted returns position of penalty 155 to to to Karnataka high court in Municipal Data society on income taxability held in trust 57. Bombay high court in case of M/s.Oberoi Constructions Pvt.Ltd on TDS default & income assessment linkage (order of the TDS officer is tentative in nature and its existence would depend upon the nature of receipt in the hands of the recipient) 58. Bombay high court in case of M/s.D. Chetan & Co. on hedging transactions to cover variation in foreign exchange rate which would impact its business of import and export of diamonds (CIT vs. Badrida Gauridas (P) Ltd BHC followed) Held not speculative u/s 43(5) 163, ,165, Supreme court in Godrej & Boyce on sec.14a & consistency 166 to Gauhati high court in case of Guwahati Metropolitan 169 to 174 Development Authority
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