S. 92C : Transfer pricing – Arm’s length price -Selection of comparables —Exclusion of dissimilarities of function is held to be justified- Appellate Tribunal- Additional evidence -Tribunal directed to examine issue of asessee’s involvement in activity of software development considering additional evidence produced .[ S.254(1)
S. 80P : Co-operative societies – Entitle to deduction – Reassessment notice is held to be not valid . [ S.2(19) , 147, 148, Constitution of India , Art , 226 , Karnataka Co-Operative Societies Act, 1959, S. 2(D-2) ]
S. 80IA :Industrial undertakings – Generation of Power- Captive Consumption — Valuation of profits to be taken at rate distribution companies allowed to supply electricity to consumers.
S. 80IA :Industrial undertakings – Business income -Income from other sources – Interest on deposit of margin money and interest on belated payments by customers is assessable as business profits – Entitle to deduction . [ S.28(i) , 56 ]
S. 80HHC : Export business – Supporting manufacturer – Certificate by main exporter and report of Chartered Accountant is mandatory- Failure to comply the same deduction is not available. [ S.80HHC(IA) ]
S. 80G : Donation – Charitable Trust – Charitable Trust should be registered under Section 12A for availing the benefit .[ S.(2(15), 11, 12A, 12AA ]
S. 69 :Unexplained investments -Income from undisclosed sources — Addition is held to be not justified merely on the basis of statement made by partner before Custom authorities . [ Customs Act, 1962, S. 108 ]
S.37(1): Business expenditure —Method of accounting – Accrual of income – Real income- Provision for revision of pay by Government committee —Liability is not contingent — Provision is held to be deductible. [ S.145 ]
S.37(1): Business expenditure — Payment to consultant – Statement made in the course of search was retracted – Disallowance is held to be not justified .[ S.132(4) ]
S. 11 : Property held for charitable purposes – Imparting spiritual education through lectures and congregation and on television channels – Established a temple to Hindu gods and goddesses for the general public [ S.2(15) 12A. 13(1)(c) (ii) ]