1.      M.N.Securities Private Limited : DHC while dismissing revenue’s appeal challenging deletion of addition amounting to Rs. 9 crores (approximately), being amount of investment made in assessee company by certain individuals.

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2.      Jaipur Golden Transport: DHC in an interesting facts of business restructuring whereby assessee changed its business model (by replacing its franchisee based business with commission based agreement), while dismissing revenue’s appeal observed that, the Assessing Officer cannot determine what is expedient for the purposes of the conduct of business.

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3.      Cross Investments: DHC in context of service on scrutiny assessment notice u/s 143(2) of the Act within stipulated time, in a fact situation where notice was dispatched on 30/10/2002, where last day of service was 31/10/2002 and finally, served on 1 Nov 2002, taking support from its earlier ruling in 287 ITR 368, has upheld that notice and assessment are not valid in view of proviso to section 143(2).

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4.      Landmark Delhi High Court order in case of Galileo Inc. Computerized Reservation System (CRS) Companies Affirmed ITAT order at 116 ITD 1 : High Court drawn support from SC ruling in 103 ITR 548 to support Attribution Finding of ITAT.

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"Voice of CA"

 

CA. Kapil Goel, Moderator-Direct Taxes, Mob: 9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, Mob: 9810418700, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com

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