ADIT vs Legg Mason Asia and Analyst Fund
Set off of loss under same head of income-Set off short-term capital loss against STCG-A.Y. 2008-09.
The assessee could adjust loss arising from short term capital asset against income arising from sale of short-term capital assets. [LexDoc Id : 455332]
Mobis India Ltd. vs DCIT
Selection of comparables-Related partly transactions-The co. which has related party transactions in excess of 25% should be excluded from comparable to arrive at ALP.
S. 92C(1) of the Income Tax A [LexDoc Id : 457417]
New Ambadi Estates (P) Ltd. vs JCIT
Validity of: Re-assessment-Disclosure made in following year-A.Y. 2006-07.
The assessee had not filed particulars of international transactions in F.N. 3CEB. There was adjustment made on account of ALP in n [LexDoc Id : 450890]
DCIT vs Welspun Zucchi Textiles Ltd.
Business loss-Exchange-rate fluctuations-A.Y. 2007-08.
The loss on account of fluctuation in foreign exchange was business loss.
S. 28 of the Income Tax Act, 1961. [LexDoc Id : 458835]
Hyosung Corpn., In re
Powers of AAR-Constitution validity of a provision of the Act-The AAR has no power/ jurisdiction in decide the virus of a particular proviso in the Act say proviso to S. 245R(2).
S. 245N(a) of the Income Tax [LexDoc Id : 449531]
