S. 194H : Deduction at source–Commission or brokerage–Cash discount-Provision is applicable in respect of amounts paid to agents in connection with sale of SIM cards and other services- Mere fact that assessee was only a recipient and had not paid any amount to distributor would not make a difference. [S. 201(1), 201(IA)]
S. 147 : Reassessment-Claimed deduction u/s. 10B despite fact that STPI, Noida from whom assessee had been taking approval was not competent to accord approval for deduction- Reassessment is held to be justified-AO is bound to allow deduction u/s. 10A which was made in the return filed in pursuance of notice u/s. 148 [ S.10A]
S. 143(3) : Assessment–Method of accounting-AIR information-Addition cannot be made solely based on AIR information. [S.4, 145, AS-26]
S. 92C : Transfer pricing-Arm’s length price-Comparables-software development services, healthcare claim- Inclusion of Company— Companies selected by TPO were functionally dissimilar with assessee then companies could not be included in list of comparables.
S. 92C : Transfer pricing-Transfer of shares-The company in which shares was transferred was not in the winding up nor was there any reasonable prospect of its going into liquidation, adoption of NAV or book value was not really warranted-Matter remanded. [S. 92CA]
S. 92C : Transfer pricing–Arm’s length price-Adjustment of Management Support Service fee-APA with the Board, for the subsequent assessment years- Matter remanded to CIT(A)
S. 92C : Transfer pricing–Arm’s length price–Cup method-Royalty and technical fees- Even if the CUP method is applied to the international transactions of Royalty and Technical know-how fee, still no transfer pricing adjustment would be called for.
S. 92C : Transfer pricing—AMP expenses—No adjustment is required. There cannot be any formula with mathematical precision to determine ALP of international transaction relating to AMP expenses.
S. 80P : Co-operative societies–Interest income–FDR with banks– Operational funds–Entitle to deduction-Remanded for verification-Gross or net–Gross interest is held to be taxable. [S. 56, 57 80P(2)(a)(i)]
S. 80P : Co-operative societies–Mutuality-Nominal member cannot be treated as non-member and so transactions of nominal members cannot be treated as transactions of non-members-Entitle to exemption. [S. 4, 80P(2)].