S. 92C : Transfer pricing-Arm’s length price-Comparables-Question of fact–Appeal is not maintainable. [S. 260A]

S. 35 : Scientific research–Research may be carried on by faculty or students-Research need not produce results-Rejection of application for approval without applying proper guidelines is held to be not valid – Matter remanded. [S. 10(23C), 35(1)(ii)]

S. 10B : Export oriented undertakings-Undertaking-Merger of two firms- Firm which is entitle to exemption merged with another firm which is entitle to exemption-New firm is entitle to exemption. [S. 10B(9), 10B(9A)]

S. 10(23C) : Educational institution-Wholly or substantially financed by Government -Receiving grant from Government in excess of 50 Per Cent. of its total receipts-Entitled to benefit of exemption for assessment years prior to amendment-Original assessment u/s 143(1) – Reassessment is held to be proper. [S.10(23C)(iiiab), 143(1), 147, 148]

S. 4 : Charge of income-tax–Capital or revenue–Sale of shares upon open offer–Additional consideration paid in terms of open offer due to delay in making offer and dispatch of letter offer- Capital receipt.

S. 251 : Appeal-Commissioner (Appeals)–Powers-Deduction at source- TDS return- There is no power conferred on authority to declare a TDS return as non-est exposing assessee to consequences thereof. [S. 200(3), 234E]

S. 234E : Fee-Default in furnishing the statements-Deduction at source-Fee cannot be levied in statement processed under S.200A up to 31-05-2015. [S. 200A]

S. 206C : Collection at source–Scrap-Ship breaking–Declaration from buyer that he is purchasing goods for reuse in manufacturing process or producing article or things-Tax not required to be collected. [S. 206C(7), 206(IA)]

S. 153 : Assessment–Reassessment–Limitation-Commissioner (Appeals) set aside order of Assessing Officer dt. 29-3-2000 vide his order dt. 27-11-2000 -Set aside assessment was completed on 31-3-2003- Set aside assessment was to be completed before 31-3-2002 – Asessment was completed on 31-3-2003- Barred by limitation -Order passed by Commissioner (Appeals) after 1-4-2000-, new assessment is to be completed within one year from end of financial year in which order was passed by Commissioner (Appeals). [S. 153(2A)]

S. 148 : Reassessment–Notice-Dead person-Notice issued on dead person is invalid. [S. 147, 159(2b), 292B, 292BB.]