S.115JB : Book profit – Provisions as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company governed by provisions of Banking Regulation Act, 1949- Companies which are not required to prepare its profit and loss account in accordance with part II & III of Schedule VI of the Companies Act , 1956 – Adjustment cannot be made. [S.115JB(2), Companies Act , 1956 , S 211(2), Banking Regulation Act, 1949]

S.115JB: Book profit – Provision is not applicable when Profit & Loss is prepared in accordance with Insurance Act 1938. [S.44]

S. 92C: Transfer pricing – Arm’s length price — Loan syndication fee received from associated enterprise — Tribunal remitting matter to AO – Not erroneous. [S.254(1),260A]

S.92C: Transfer pricing- International Transactions – Arm’s length price – comparable – Investment advisor or sub – advisor cannot be compared with a merchant banker or investment banker.

S. 80IB(10) : Housing projects- Complied all the conditions- Failure to complete the project attributable to the assesee- Entitle to deduction .

S.80IB (10): Housing projects – Deduction could not be denied on the ground that project was not completed within prescribed time limit.

S. 80IB: Industrial undertakings – Initial assessment year – Commenced manufacture in accounting year relevant to Assessment Year 2002-03 — Assessee cannot claim subsequent assessment year as year for initial deduction. [S.80IB(4), 80IB(14)]

S.80I : Deduction for Industrial undertaking – deduction should be given on profit without reducing the deduction u/s.80HH .[ S.80HH ]

S.68 : Cash credits – Share Application Money -In the absence of incriminating material found during search – No addition can be made. [ S. 132, 153C ]

S.45(3) : Foreign exchange forward contract loss – Allowable as business loss and setoff against loss. [ S.28(i) ]