S. 145 : Method of accounting Rejection of books of account-Failure to produce records due to factory seizure-Estimation of gross profit-Reduction by Commissioner (Appeals) upheld-Assessing Officer doubting only trading results-No defect found in manufacturing segment-Overall rejection of books unjustified.[S. 145(3)]

S. 143(3): Assessment-Bogus purchases-Purchases supported by invoices, stock records and banking evidence-Sales accepted-Addition deleted-Delay of 136 days in filing cross-objection-Bona fide belief-Delay condoned. [S. 145(3), 254(1)]

S. 143(3): Assessment-Wrong mention of section 69 instead of section 50C-Typographical error-Assessment valid-Absence of Document Identification Number (DIN)-No prejudice shown-Assessment not invalid-Manual signature-Absence of digital signature-Assessment valid-Capital gains-Full value of consideration-Stamp valuation-Stamp duty value exceeding declared sale consideration-Addition upheld-Search assessment-Approval of prescribed authority-Approval available on record-Assessment upheld. [S.45, 50C, 69,132, 153D 282A]

S. 143(3): Assessment-Gross profit-Ad hoc enhancement without defects in books-Addition deleted-Depreciation-CPC disallowance without reasons-Matter remanded-[S.32, 143(1), 145(3)]

S. 132(4): Search and seizure-Statement on oath-Statement recorded during search-Retraction after seven months-No evidence of coercion-Statement admissible.[S. 132]

S. 115P: Domestic companies-Tax on distributed profits-Dividend Distribution Tax-Credit-Assessing Officer directed to grant credit after verification.

S. 115JB : Company-Book profit-Amalgamation-General reserve arising on amalgamation not equivalent to accumulated profits-Matter restored-Interest-Levy consequential. [S. 234B, 234C]

S. 92CA : Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Advertisement, Marketing and Promotion (AMP) expenses-No international transaction beyond agreed reimbursement-Adjustment deleted-Comparables-Functionally dissimilar companies to be excluded-Working capital adjustment-DRP directions binding-Adjustment to be allowed-Royalty-Transactional Net Margin Method accepted-Separate benchmarking under CUP not permissible-Salary of expatriate employees-Secondment-No evidence of services rendered to parent company-Disallowance deleted.[S.37(1), 92C, 144C]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Advertisement, Marketing and Promotion (AMP) expenses-Commission to distributors not AMP expenditure-Addition deleted. [S. 92CA]

S. 80-IA : Industrial undertaking-Deduction-To be allowed from gross total income-Order of CIT(A) to allow deduction after verification of claim was held to be proper. [S. 143(3)]