1.      BHC in IAL Shipping Agencies : In context of separate-legal entity approach, It cannot be said that the assessee company and the other company, which were under the same management, are the same entity.

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2.      DHC in Rajesh Kumar: Del HC has upheld ITAT order wherein albeit reference for Special Audit was vitiated by principle of Natural Justice.

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3.      DHC in the case of Hindustan Indl. Limited, while reversing underlying ITAT order and allowing assessee's appeal, in a fact situation, where assessee purchased agricultural land for intended industrial use, transferred the same under acquisition by Noida Development Authority without using it for industrial activity, it is concluded by DHC that mere non carrying of agricultural operations and mere intention to carry industrial activity, without anything more, will not change the character of land from "agricultural" (so classified as per land records both at the time of purchase/acquisition by/from assessee ) to non agricultural, u/s 2(14) of the Act.

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4.      P&HHC  in cases of Trishla Jain and Others, while answering bulk of tax references, in context of non-resident taxation for interest accrued on debentures purchased in foreign exchange, u/s 5(2) of the Act, has interalia concluded that assessee's contention that said interest be taxable on receipt basis, is devoid of merit because of section 5(2)(b) of the Act, which as per HC, indicates that if taxability can be drawn on basis of accrual then actual receipt is immaterial. In concluding so, P&HHC drew support from

            ·        SC and Mad HC ruling Standard Triumph cases 201 ITR 391 etc.

·        BHC ruling in Pfizer Corp 259 ITR 391 which has analysed section 145 scope vis a vis section 5 of the Act, which remains unconsidered in present P&HHC ruling.

NOTE  :Last date for submission of online application for Multipurpose Empanelment Form (MEF) for the year 2009-2010 is 15-06-2009. ( source : www.meficai.org ) And submission of hard copy of declaration of MEF for the year 2009-2010 to The Director, PD Directorate, ICAI, New Delhi - 110002 is 30-06-2009.