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Beneficial ownership not prevails over legal ownership to tax gain on sale of shares -AAR

Case Name : Re. Moody's Analytics Inc. (AAR Delhi)
Appeal Number : AAR Nos. 1186 to 1189 of 2011
Date of Judgement/Order : 31/07/2012
Related Assessment Year :
Courts : Advance Rulings (3746)

Six Rules to distinguish share gains as LTCG/STCG vs. business profits

Case Name : Commissioner of Income Tax Vs Vaibhav J Shah (HUF) (Gujarat High Court at Ahmedabad)
Appeal Number : Tax Appeal No. 77 of 2010 WITH
Date of Judgement/Order : 27/06/2012
Related Assessment Year :
Courts : All High Courts (13956) Gujarat High Court (1140)
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Transfer pricing – Current year data can be used for comparability of international & uncontrolled transactions

Case Name : Lionbridge Technologies (P.) Ltd. Vs Deputy Commissioner of Income-tax (ITAT Mumbai)
Appeal Number : IT Appeal No. 9032 (Mum.) of 2010
Date of Judgement/Order : 20/06/2012
Related Assessment Year : 2006-07
Courts : All ITAT (14953) ITAT Mumbai (3584)
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Interest u/s. 244A payable on gross amount including principal as well as interest

Case Name : Joint Commissioner of Income-tax (OSD) Vs M/s. ITC Hotels Ltd. (Merged with ITC Ltd.) (ITAT Kolkata)
Appeal Number : I.T.A No. 246/Kol/2012
Date of Judgement/Order : 29/06/2012
Related Assessment Year : 1996-97 to 1998-99
Courts : All ITAT (14953) ITAT Kolkata (1035)
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Service tax cannot be included in total receipts for determining presumptive income

Case Name : M/s Sedco Forex International Drilling Inc. Vs Additional DIT, International taxation (ITAT Delhi)
Appeal Number : ITA no.5284/Del. /2011
Date of Judgement/Order : 29/06/2012
Related Assessment Year : 2008-09
Courts : All ITAT (14953) ITAT Delhi (3706)
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Section 41(1) applies to Unpaid dues, whose recovery is time barred

Case Name : Commissioner of Income Tax Vs Chipsoft Technology Pvt Ltd (Delhi High Court)
Appeal Number : ITA No.598/2011
Date of Judgement/Order : 20/07/2012
Related Assessment Year :
Courts : All High Courts (13956) Delhi High Court (3377)
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On dissolution of partnership firm, only firm is taxable on capital gain on Assets distributed to Partners

Case Name : Chalasani Venkateswara Rao Vs Income-tax Officer, Ward-IV, Vijayawada (Andhra Pradesh High Court)
Appeal Number : I.T.T.A NO. 70 OF 2000
Date of Judgement/Order : 03/08/2012
Related Assessment Year :
Courts : All High Courts (13956) Andhra Pradesh HC (221)
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Exemption u/s. 11 cannot be denied for non -registration under other statue

Case Name : Deputy Director of Income-tax (Exemptions) - II Vs Andhra Pradesh Right to Sight Society (ITAT Hyderabad)
Appeal Number : IT Appeal No. 184 (HYD.) OF 2011
Date of Judgement/Order : 03/08/2012
Related Assessment Year : 2004-05
Courts : All ITAT (14953) ITAT Hyderabad (630)
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Assessment can’t be held void if search warrant issued in joint names

Case Name : Commissioner of Income-tax Vs Devesh Singh (Allahabad High Court)
Appeal Number : IT Appeal No. 99 to 110 OF 2010
Date of Judgement/Order : 23/07/2012
Related Assessment Year :
Courts : All High Courts (13956) Allahabad High Court (800)

Income from sale of Government Securities is ‘capital gains’, not ‘interest’ under DTAA

Case Name : Director of Income-tax (International Taxation) Vs Credit Suisse First Boston (Cyprus) Ltd. (Bombay High Court)
Appeal Number : IT Appeal No. 1026 OF 2011
Date of Judgement/Order : 09/07/2012
Related Assessment Year :
Courts : All High Courts (13956) Bombay High Court (1882)
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