S. 132 : Search and Seizure-Power to seize articles-Stock in trade Seizure cannot be made on mere suspicion-Explanation of assessee must be considered-Seizure was held to be illegal-Department was directed to pay interest of Rs. 1 lakh on market value of seizure of stock in trade. [S. 132(1)(iii), 132(4), Art. 226]
S. 115JB : Book profit-Banking companies-Accounts drawn in conformity with Banking Regulation Act, 1939-Not liable for minimum alternative tax.
S. 115JB : Book profit-Write back of provision-Disputed excise duty-The denial of the benefit of writing back the provision to the assessee in these assessment years was illegal and the finding recorded by the Tribunal was valid and correct. [S.143(3)]
S. 92CA : Reference to transfer pricing officer-Opportunity of hearing-Opportunity of hearing must be given. [Art. 226]
S. 92CA : Reference to transfer pricing officer-Alternative remedy-Writ is not maintainable-Corporate service-The order passed by the Tribunal in respect of reference made against an order passed under section 92CA for a particular assessment year was not binding for the subsequent assessment years. [S. 144C, 253, Art. 226]
S. 92C : Transfer pricing-Arm’s length price-Comparable-Foreign Associated enterprises-Tested party-Matter remanded back to TOP. [S. 260A]
S. 92A : Transfer pricing-Associated enterprises-Arm’s length price-Arranged price-Deletion of addition was set aside-Tribunal’s order as regards the value of scrap sales and the levy of interest and the 5 per cent. of interest income taken as expenditure was up held. [S. 10B, 92A(1), 92CA(3)]
S. 80P : Co-operative societies-Interest on deposits-Entitle to deduction. [Kerala Societies Registration Act, 1860, S. 2(19)]
S. 80P : Co-operative societies-Entitle to deduction-Matter remanded.
S. 80IB(10) : Housing projects-Open terrace of building not to be included for computation of built-up area-Time limit for completion of project-Date of approval of building plan and not date of lay-out-Completion Certificate issued by local panchayat would satisfy the requirement-Entitled to deduction. [S. 80IB(10)(b)]