S.154: Rectification of mistake apparent on record -Levy of interest- Delay in filing of return-Waiver of interest – Petition was dismissed .[ S. 234A, 234B, 234C ]

S. 147 : Reassessment – Recorded reason was 31 st March 2010 where as notice u/s 148 was issued on 30 th March 2010 -Recording of reasons before issue of notice is mandatory hence Reassessment was held to be bad in law [ S.148 ]

S. 139 : Return of income -Delay due to crashing of computer system – Application which was filed for condonation of delay was rejected, after six years of filing of petition was held to be not justified -CIT was directed to condone the delay and hear the matter expeditiously with the observation that delay in disposing the application after six years of filing of the petition has to be viewed seriously while rendering substantial justice to parties . [ S.119(2)(b) ]

S.139:Return of Income- Delay of five months due to illness of Auditor however details of illness and any proof of doctor’s prescription was not given- Delay was not condoned- Discipline on time limits regarding filing of returns had to be complied and respected, unless compelling and good reasons were shown and established for grant of extension of time . [ S.80IB ,119]

S.92C: Transfer pricing -Arms’ length price- Functionally different -Exclusion of six comparables by the Tribunal by the Tribunal was held to be justified .

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits -20% expenditure -Purchase of land as stock in trade -Villagers paid the amount in cash in the absence of banking facilities deletion of addition was held to be justified [ R.6DD(h)]

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits – Evidence in the form of bills etc. was not produced. Disallowance was confirmed . [ R.6DD(h) ,(j )]

S.37(1): Business expenditure -Capital or revenue-Fees paid for Licence to use copy right was held to be allowable as revenue expenditure.

S. 14A : Disallowance of expenditure – Exempt income -Invested own money therefore no disallowance of interest can be made in respect of borrowed funds [S. 36(1)(iii), R.8D ]

S. 12A : Registration –Trust or institution- Cancellation notice having been issued on 6.03.2012, it did not suffer from any jurisdictional error. Matter was remanded to Tribunal to decide the issue on merits .[ S.2(15)]