S. 92C : Transfer pricing-Arm’s length price–No express agreement shown to exist between assessee and AE for incurring ALP expenses for promotion of brand of AE–hence, AMP expenses cannot come within the purview of the international transaction-Determination of ALP of royalty at Nil is not sustainable-Applying rule of consistency-payment of royalty paid in earlier and subsequent years-has to be accepted.

S. 92C : Transfer pricing–AMP expenses incurred for brand building–not an international transaction–followed earlier order of tribunal in its own case–Matter remanded back-Income deemed to accrue or arise in India–Business connection–Premium for insurance policy was incurred by Adidas AG and it would only be entitled to receive claim of insurance and no income accrued to assessee–No business connection in India [S. 9(1)(i), 92B(1)]

S. 69A : Unexplained money-Assessee failing to discharge onus to prove lawful owner of cash found during course of Search-Cash in possession of Assessee to be treated as unexplained money. [S. 132]

S. 69 : Unexplained investments–HSBC in Switzerland-No addition in the absence of incriminating material found in the course of search. [S. 132, 153A]

S. 68 : Cash credits-Search and Seizure–Sale of property–Identity of the Purchaser-No incriminating material–Found during a search –Genuineness of transaction–No Cash credit–The settlement commission rejected the application–Merely on the basis of application before the Settlement commission–Addition cannot be made. [S. 153C, 245C(1)]

S. 68 : Cash Credit–Share application money–Burden of Proof-Identity, Creditworthiness and Genuineness of the Transactions on the Assessee–Mere submission of details not sufficient–Failed to discharge the burden–Addition is held to be justified-Bogus Purchases-Assessee failed to produced parties–Notice returned unserved–No documentation–Transportation and consumption– Addition is held to be justified. [S. 69]

S. 68 Cash Credits–Share Application money–Identity and Creditworthiness of the share applicant-Genuineness of the transactions-Burden of Proof–Initial onus on assessee– Discharged-Onus shift to Revenue–Addition based on suspicion is held to be invalid.

S. 68 : Cash credits-Cash deposits-Demonetization-AO acting unreasonably and capriciously in rejecting genuine explanations offered by assessee in respect of cash deposits as unsatisfactory-Additions is unsustainable. [S. 115BBE]

S. 56 : Income from other sources–Share premium-Valuation of shares-Fair Market Value–Valuation considers various factors and not only balance sheet–Rejection of evidence is held to be not valid. [S. 56(2)(viib), R11UA]

S. 56 : Income from other sources-Issue of shares at premium-Provisions require the value of assets to be at FMV regardless of the book entries–Valuation of share premium on issue of unquoted equity shares by closely held company basis such FMV justified. [S. 56(2)(viib)]