S.147: Reassessment- Best judgement- Addition based on the statement of third party and some notings found from laptop of third party- neither the copy of statement was provided nor opportunity to cross examination was provided -Addition was held to be bad in law [ S. 144,148 153C ]

S. 92C : Transfer pricing – Arm’s length price -Professional consultancy fees, management fees for support service and sap consultancy charges — Transactional net margin method is most appropriate method.

S. 92C : Transfer pricing – Arm’s length price -Net Margin method-Loss on sale of fixed assets not part of operating cost -AO has to carry out adjustment in computing profit level indicator as well as profit level indicator of comparables – Errors which crept in to while computing margins of comparables to be rectified -Transfer pricing study for a particular year is unique for each year and depend upon functions performed , risk assumed and assets employed by entities , there is no rule of consistency – Broad functional comparability of entities to be carried out there may not be product to product comparision- AO to reappreciate functional comparbility between assessee and comaprbles . [ S.92CA ]

S.45: Capital gains — Business income — Investment in shares – Just because volume and frequency of transactions are high profit on sale of shares cannot be assessed as business income [S.28 (i) ]

S.45:Capital gains — Un registered agreement – The settlement for cancellation of agreement took place after the close of the assessment year 2012-13. There was no contract in the eyes of law under S. 53A after 2001 unless the contract was registered . Addition was not sustainable .[ S. 2(47)(v), Transfer of Property Act, 1882,S.53A ]

S.40(a)(ia):Amounts not deductible – Deduction at source – Payments made to the vendors for the work performed by them by deploying semi-skilled personnel did not involve any technical or professional knowledge on their part, and the work could not be brought within the sweep of S. 194J- Disallowance cannot be made as the assessee correctly deducted the tax at source u/s 194C of the Act .[ S.194C, 194J ]

S.37(1):Business expenditure — Travelling expenses — No disallowance could be made once expenditure is subjected to Fringe benefits tax.

S. 37(1) : Business expenditure -Fines and penalties — Levy of penal interest by Reserve Bank of India for failure to maintain statutory liquidity ratio is entitled to deduction in Assessment year in which liability is crystallised.

Dispute Resolution Scheme, 2016

S.201(1)((h): Tax arrear- penalty levied for contravention of S. 269SS and 269T is eligible to claim the benefit of the Scheme . [ S.202(b), 269SS, 271D, 271E ]

S. 281B : Provisional attachment -Reasonable apprehension that Assessee may default as the transactions discovered to be bogus and net worth of assessee declining accordingly the provisional attachment is held to be Justified [ S.147 ]