| 2016-TII-INSTANT-ALL-321 | 02 May 2016 |
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TII FLASH Three jurisdictions this time around (See 'TII Exclusive') Govt. Approves 7 Proposals of FDI Amounting to Rs. 517.57 crore Approximately (See 'FDI Approved') CASE LAWS PR CIT Vs MITSUI PRIME ADVANCED COMPOSITES INDIA PVT LTD: DELHI HIGH COURT (Dated: April 28, 2016) Whether merely because a question of law decided by the High Court has been challenged by the Revenue before the Supreme Court, its ratio cannot be applied - NO: HC Whether when the question relating to application of TNMM by a Sogo Shosha company for calculation of net profit margin with reference to cost incurred by it, and not by any other entity, has been decided by the High Court, the ratio of this decision cannot be applied merely because the Revenue has appealed against it - NO: HC Revenue's appeal dismissed EMERSON PROCESS MANAGEMENT POWER AND WATER SOLUTIONS INDIA PVT LTD Vs ACIT DELHI ITAT (Dated: April 13, 2016) Whether an entity engaged in infrastructure in the area of special economic zone, urban infrastructure, agri-infrastructure & offshore terminal, can be compared to an entity engaged into application of "engineered software development and related services" - NO: ITAT Whether a company engaged in rendering both civil and engineering consultancy services, can be treated as uncomparable to an entity engaged in rendering engineered software development and related services - NO: ITAT Case remanded |
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