On Saturday, 25 January 2014 1:39 AM, "info@cliofindia.com" <info@cliofindia.com> wrote:
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ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F International transactions : Where failure of assessee to establish influence of multiple years' data on determination of transfer pricing, TPO justified in using current year's data : Premier Exploration Services P. Ltd. v. ITO (Delhi) p. 427
F International transactions : Non-operational income to be excluded in computation of ALP : Premier Exploration Services P. Ltd. v. ITO (Delhi) p. 427
F Depreciation at 60 per cent. allowable on computer peripherals : Premier Exploration Services P. Ltd. v. ITO (Delhi) p. 427
F Amount accrued or received from duty drawback entitled to deduction : ITO v. Makers Mart (Jodhpur) p. 444
F Liability to pay interest for deferment of advance tax based on advance tax payable on returned income not on assessed income : SAP India P. Ltd. v. Dy. CIT (Bangalore) p. 469
F Provision of free meals to employees essential for employee welfare, allowable as business expenditure : SAP India P. Ltd. v. Dy. CIT (Bangalore) p. 469
F Charitable purpose : Whether sums used for tsunami project or Indiramma project would not make any difference, exemption allowable: Dy. DIT (Exemption) v. Society for Integrated Development in Urban and Rural Areas (SIDDUR) (Hyd.) p. 506
F Where no fresh information collected by the AO, reopening of proceedings bad in law : ITO v. Object Connect India P. Ltd. (Hyd.) p. 518
F Expenditure incurred on abandoned film allowable : ITO v. Abdul G. Nadiadwala (Mumbai) p. 528
F Where expenditure incurred towards raising of additional equity share capital by private placement could be attributed to extension of undertaking, assessee entitled to amortisation of preliminary and pre-operative expenses u/s. 35D : Chiranjeevi Wind Energy Ltd. v. Asst. CIT (Chennai) p. 534
F Claim to additional deduction cannot be raised for first time before CIT (Appeals) : Chiranjeevi Wind Energy Ltd. v. Asst. CIT (Chennai) p. 534
F Since no prejudice was caused to Revenue by assessing gains arising on sale of immovable properties, revision not justified : K.V. Balagangadharan v. Dy. CIT (Cochin) p. 539
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