S. 132(4) : Search and seizure-Statement on oath–surrendered income– Expenses computed–irregularity in accounts–addition is not justified.

S. 132 : Search and seizure–No search warrant–Search declared as invalid –Block assessment is also invalid.[S. 158BC, 158BD]

S. 92CA : Reference to transfer pricing officer–Arm’s length price- Advertisement and publicity expenses-Additional grounds-ALP disputed for the first time before the Tribunal-Additional ground is rejected as it virtually result in re-opening of the assessment. [S. 92C, 254(1)]

S. 92C : Transfer pricing-Asssessee paid consultancy fees and other reimbursement to Associated Enterprise–AO asked for details regarding such international transaction–assessee filed details however the TPO was not convinced and made addition–DRP confirmed as no new material was brought on record–ITAT remanded the matter back to AO for de-novo consideration.[S. 254(1)]

S. 80IA : Industrial Undertaking-Industrial undertakings–Infrastructure development-Operating and maintenance of airport-Agreement between airports authority and the assessee-Entitled to deduction. [S. 80IA(4)(i)(c)].

S. 69 : Unexplained investments–Cash transactions in bank accounts- Source of cash deposits–failed to explain source–Addition is held to be justified. [S. 131(1)]

S. 68 : Cash credits-Addition on basis of statement of person who retracted it later-No opportunity of cross-examination given to assessee-Neither Assessing Officer nor Investigating Authorities bringing on record any incriminating documents to suggest assessee holding unaccounted income brought back as loans and advances-No unexplained credits in hands of assessee.

S. 68 : Cash credits-Unsecured loan received substantiated by substantial documentary evidence-No proof by AO that loan emanated from coffers of assessee-Lenders corporate entities assessed to tax, making unsecured loans through banking channels-Complete details and evidence of lenders submitted by assessee-Addition is deleted. [S. 133(6)]

S. 68 : Cash Credits-Addition on basis of statement of person who retracted it later-No opportunity of cross-examination given to assessee-Neither Assessing Officer nor Investigating Authorities bringing on record any incriminating documents to suggest assessee holding unaccounted income brought back as loans and advances-Mere suspicion cannot be reason for making additions-It cannot replace the evidence on record placed by assessee supporting its explanation.

S. 68 : Cash Credits-Assessee set up her own sewing machines in her home and gave contract to tailor–Received orders from customers and tailor stitching the cloth-Assessee and tailor sharing the receipts in ratio of 35 : 65-Assessee’s offer to demonstrate her claim on test check basis declined-Cash book and vouchers of day not examined-AO directed to verify sums reflected by assessee as her income of a specific day is 35 per cent. of sum total of receipts of vouchers of specific date.