S.92BA: Transfer pricing-Specified domestic transaction-Arm’s length price-Avoidance of tax-Industrial undertaking-Generation of electricity-Internal CUP available-Purchase price of electricity from State Electricity Board constituted market value-Transfer pricing adjustment deleted. [S. 80IA]
S. 92B : Transfer pricing-International transaction-Arm’s length price-Avoidance of tax-Royalty-Payment for technical know-how-Royalty transaction cannot be aggregated with manufacturing transactions-Transaction held to be at arm’s length. [S.92C, R. 10AB]
S. 90: Double taxation relief-Foreign tax credit-Credit on income exempt in India-Available where permitted by applicable DTAA-DTAA-India-USA [Art.25]
S. 80JJAA: Employment of new workmen-Deduction-Amended provisions wrongly applied-Matter remanded for examination under unamended provisions.
S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-Captive power generation-Market value of electricity-Rate charged by distribution company to consumers to be adopted for computing deduction.[S.80IA(8)]
S. 80-IA : Industrial undertakings-Enterprises engaged in infrastructure development-Generation of steam-Steam constitutes power-Captive consumption-Arm’s length price cannot be taken at Nil-Transfer pricing adjustment deleted. [S. 92BA]
S. 80G: Donation-Corporate Social Responsibility-Donation to approved institutions-Deduction cannot be denied merely because expenditure forms part of CSR activities. [S. 37, Companies Act, 2013, S. 135]
S. 56: Income from other sources-Purchase of shares-Value adopted by assessee higher than fair market value-Provision not attracted. [S. 56(2)(viib), [S.92C, R. 11UA]
S. 50C: Capital gains-Full value of consideration-Stamp valuation Land affected by statutory restrictions due to gas pipeline-Reduction in stamp duty value justified. [S. 45, Petroleum and Minerals Pipelines Act, 1962, S.9]
S. 44BBA : Aircraft-Non-residents-Computation-Operation of aircraft-Presumptive taxation-Service tax collected on behalf of Government-Not includible in gross receipts.