S. 115JB : Book profit-Business loss-Depreciation loss-Available for reduction from book profits till it was wiped off. [S. 28(i), 32, 72]

S. 92C : Transfer pricing-Arm’s length price-Reimbursement of expenses-Mark up was directed to be re-examined.

S. 92C : Transfer pricing-Arm’s length price-Interest free advance-LIBOR rate and not domestic lending rate-Loan to AE-International Transaction. [S. 92B]

S. 92C : Transfer pricing-Arm’s length price-Secondary adjustment cannot be rejected-Matter was remanded for verification of factual elements. [S. 92CE(1)]

S. 92C : Transfer pricing-Arm’s length price-TPO cannot decide as to whether expenses incurred by assessee were necessary for business purpose of assessee or not. [S. 37 (1)]

S. 69C : Unexplained expenditure-Bogus purchases-Import and export of diamonds-Purchase invoices, ledger account, payment details and PAN was produced-Restricting 6% of alleged bogus purchases is held to be justified-Disallowance of expenses was held to be not justified. [S. 132, 143(3)]

S. 69A : Unexplained money-Demonetization-Exempt limit of income-tax-Housewife-Bank deposits were made was less than 2.50 lakhs-No addition can be made.

S. 69 : Unexplained investments-A Non Banking Finance Company (NBFC) engaged in providing loans and investment activities in India-Loan was not advanced to Foreign Company-Addition was held to be not justified.

S. 68 : Cash credits-Share capital-Good will-Allotment of shares in lieu of goodwill-No movement of actual money either cash or through bank-Addition cannot be made as cash credits.

S. 68 : Cash credits-Cash deposit in bank-Survey-Jewellery business-Post-demonetisation-No defects in purchase and sales-Outgo of stock matching with stock-Addition is held to be not valid. [S. 44AB, 133A]