S. 194C : Deduction at source–Contractors–Sub-Contractor- Contractor has to deduct tax at source on payment made to their sub contractors – Where person fails to deduct tax at source on sum paid to resident or on sum credited to account of resident such person shall not be deemed to be assessee in default in respect of such tax if such resident has furnished his return of income u/s. 139. [S. 40(a)(ia), 139, 201]
S. 153A : Assessment-Search or requisition–If assessee has neither filed return in response to notice nor participated in the assessment proceedings, addition made on the same shall not be deleted-Matter remanded to CIT (A).
S. 147 : Reassessment—Change of opinion – When the initiation of reassessment proceedings amounted to change of opinion, same is not permitted in the law. [S. 40(a)(ia), 43B]
S. 147 : Reassessment-Amalgamation-AO issued notice for reopening only against amalgamating company and not against assessee company which was amalgamated/successor company, assessment made in name of assessee company was void. [S. 148, 292B]
S. 145 : Method of Accounting – Percentage completion method – Accepted by department in earlier year, then there is no reason for AO to deviate from that method.
S. 144C : Reference to dispute resolution panel-In terms of sub-section (1) of section 144C, issuance of draft assessment order is a sine qua non before Assessing Officer can pass a regular assessment order under section 143(3). [S. 143(3), 292B]
S. 115JB : Book Profit–Provision for warranty-Followed scientific method and had considered historical data to arrive at correct book profit- Addition of provision for warranty would not be justified.
S. 115JB : Book Profit – Exempt income -No disallowance to be made under S. 14A while computing book profit. [S. 14A]
S. 92C : Transfer pricing – Arms’ length price – In order to analyze ALP of international transactions, closely linked transactions were to be adopted as one transaction in order to carry out TP analysis by applying any of the prescribed methods as appropriate method-Matter remanded.
S. 92C : Transfer pricing – Arms’ length price – Royalty paid to associated enterprises was same as assessed when it was an independent entity – No adjustment to be made.