S. 92C : Transfer pricing–Release of money in favour of Associated Enterprise with a specific purpose of acquisition of distributorship of the films from Citi Gate Trade FZE is not a case of either financing or lending or advancing of any moneys- Not International Transaction did not result in to diversion of income of the assessee to the Associated Enterprise. [S. 92, 92B, 92D, 92E]

S. 80IB : Industrial undertaking-Business of manufacturing Menthol-Profit from hedging–Hedging activity of Mentha Oil has direct nexus with the manufacturing activity and profit derived from hedging is eligible for deduction.

S. 80DD : Medical treatment of dependent–Disability–Observations-Jeevan Aadhar-Amount of annuity under the policy is to be released only after the death of the person assured -Purpose is to secure the future of the person suffering from disability , after the death of the parent / guardian–Provision is valid in law -Considering the several difficult situations where the handicapped person may need the payment on annuity or lumpsum basis even during the life time of their parents / guardians, it is for the legislature to take care of theses aspects and to provide suitable provision by making necessary amendments in S.80DD. [Art. 14]

S. 43D : Public financial institutions-Co-Operative Bank–Non performing assets (NPA)-Accrual of interest income- Provision is applicable to Co -Operative Societies–Amount transferred to overdue interest Reserve (OIR) by debiting the interest received in profit and loss account, cannot be assessed on accrual basis. [S. 145]

S. 37(1) : Business expenditure-Amortized premium on investment in govt .Securities held under category “Held to Maturity”) (HTM) is held to be revenue expenditure.

S. 10(23C) : Educational institution- Exemption cannot be denied on the ground that in isolated case few institutions run by the Trust may not fulfil the requirements. [S. 10 (23C)(iiiab)]

Income Declaration Scheme 2016 (IDS) -Finance Act , 2016 ( 2016) 381 ITR 134 (St) (S. 178 to 196) , ( 2016) 384 ITR 165 (St)- ( Refer AIFTPJ. July 2016 )

S.195: Power to remove difficulties- Not depositing the first instalment with in time – Board refusing to condonation of delay – Concession and excess indulgence would demotivating effect on honest taxpayers making regular and prompt tax deposit -Dismissal of application is held to be justified [ S.184, ITA, S.119 Art.14 ]

S.37(1): Business expenditure — Provision for damaged goods -Held to be allowable .

S.28(i):Business Loss — Soft drinks — Product having limited shelf Life —Non useable or non saleable which was destroyed – Allowable as business loss .

S.28(i): Business loss — Litigation and bona fide dispute about goods at Bangladesh border – Foreseeable Loss — Held to be allowable . [ S.37(1), 145 ]