S.92B: Transfer pricing- International transactions — Investment in share capital of subsidiaries outside India — Advancing towards investment and for expansion of business out of interest free funds — No interest can be charged — Not in nature of international transaction-Transfer pricing provisions is not applicable — Adjustment is not required .[ S.92C ]

S. 72 : Carry forward and set off of business losses -Assessment Order for earlier year pending in appeal — Assessing officer to pass consequential order with regard to set off of brought forward losses keeping in mind outcome of appeal .

S.68: Cash credits —Presumptive taxation- Retail business-Not maintain books of account – Return filed under presumptive taxation- Cash deposits in bank accounts of assessee — Returned income not matching presumptive rate of tax on gross turnover – Department to treat return as invalid — Addition cannot be made as cash credits [ S.44AF ]

S. 50B : Capital gains – Slump sale – Transfer of Hospital business — No Transfer of Land and building of Hospital — Not slump sale — Receipt on account of transfer of Hospital business taxable . [ S.2(42C) ]

S. 43A : Rate of exchange – Foreign currency – Capital advance made to subsidiary- Notional Loss — Restatement of foreign currency loan is capital in nature and not allowable as deduction. [Accounting Standard, Para 11.]

S. 40A(2): Expenses or payments not deductible – Excessive or unreasonable -Onus on assessing officer to bring on record comparable cases Assessee as well as holding company assessed to Income-tax at maximum marginal rate — Disallowance is not justified .

S.37(1): Business expenditure — Capital or revenue -Collaboration agreement for expansion of existing business — Project abandoned without acquiring any new asset for enduring benefit —Expenses allowable as revenue expenditure.

S.32: Depreciation — Goodwill —Goodwill in books of assessee on account of rounding off of decimal in share exchange ratio not an artificial one- Entitle depreciation.

S. 11 : Property held for charitable purposes –Educational activities- Denial exemption is not justified only on account of charging fees from students – Receipts cannot be assessed as income from other sources – The assessee is entitle to exemption.[ S.2(15), 12 , 56]

S. 10B: Export oriented undertakings – Delay of one month in filing return — System of assessee affected by virus —Entitled to exemption.[ S.139(1) ]