S. 92C: Transfer pricing-Arm’s length price- Avoidance of tax-International transaction- Advertisement, Marketing and Promotion (AMP) expenditure-No international transaction established-Transfer pricing adjustment deleted- Intra-group services-Earlier year’s order followed-Matter remanded to Transfer Pricing Officer- Assessment-Fresh claim made during assessment proceedings-No revised return filed-Claim raised before appellate authorities maintainable-Matter remanded.[S.92CA, 143(3)]

S.92BA: Transfer pricing-Specified domestic transaction- Arm’s length price-Avoidance of tax Transfer Pricing-“Arrangement” between eligible and non-eligible units is condition precedent-Additional evidence admitted-Matter remanded.[S. 80-IA (10) 80-IC, 80-IE, 92BA, 254(1), R. 29 of the ITAT Rules, 1963]

S. 90: Double taxation relief- Non-resident-Rights Entitlement-Capital gains-Rights entitlement distinct from shares-Taxable only in State of residence- DTAA-India-Ireland [[Art. 13(4), 13(5), 13(6), Companies Act, 2013, S. 62]

S. 80G: Donation-Corporate Social Responsibility expenditure-Deduction under section 80G allowable notwithstanding disallowance under section 37(1).[S. 37(1), Expln. 2]

S. 69C: Unexplained expenditure- Bogus purchases-Sales accepted and books not rejected-Entire purchases cannot be disallowed-Only profit element taxable- Trading addition-Gross profit rate of 5 per cent. adopted to meet ends of justice.[S.133(6), 143(3)]

S. 69A: Unexplained money-Cash deposits during demonetisation-Cash deposited directly by customers into bank account-Addition deleted.[S. 68, Specified Bank Notes (Cessation of Liabilities) Act, 2017, S. 2(1)(a), 5]

S. 69A: Unexplained money-Cash deposits in bank-Business receipts from sale of SIM cards and recharge vouchers-Addition under section 69A deleted-Profit element alone taxable- The Assessing Officer was directed to estimate the income at 1 per cent. of the gross business receipts, and no interest was leviable as the income remained below the basic exemption limit. [S. 144]

S. 69: Unexplained investments- Search assessment-Sale of shares-Opening stock ignored by Assessing Officer-Addition for unexplained investment deleted.- Addition based on material collected behind assessee’s back-No opportunity of rebuttal-Addition deleted- Loose papers-No corroborative evidence of investment-Addition deleted- Bank deposits recorded in books-Entire deposits cannot be treated as unexplained income- CIT(A) was not justified in relying on Joint Parliamentary Committee on scam, when the assessee explaining specific transactions of deposit-addition was deleted- Bonds registered in Assessee’s name by order of Special Court. Assessing Officer’s computation of accrued interest as assessee’s income was sustained.- Surrender of Income-Addition was directed to be deleted even if reassessed income lower than sum surrendered. ( [S. 4, 68, 69A, 132,132(4), 139, Special Court (Trial of Offences Relating to Transactions in Securities Act, 1992]

S. 68 : Cash credits- Long-term capital gains-Penny stock-NCL research-Kolkata Investigation report-Statement of persons involved- Artificial rise in share price-Transactions held non-genuine-Exemption denied.[S.10(38), 45, 132, 147]

S. 68: Cash credits-Opening balances-No fresh credit during relevant previous year-Addition not sustainable.