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]

S. 68 : Cash credits-Bank deposits-Cash was deposited without the authority-Account was misused by bank personnel-Matter remanded.

S. 68 : Cash credits-Share capital-Primary onus on assessee-No addition can be made on the basis of allegation, suspicion, conjectures or surmises.

S. 56 : Income from other sources-Share premium-Amalgamation-Issue of shares in pursuance of scheme of amalgamation legally recognized in Court of Law does not fall within scope of section 56(2)(viib) of the Act. [S. 56(2)(viib)]

S. 56 : Income from other sources-Agricultural income-False documents-Justified in treating alleged agricultural income as income from other sources. [S. 2(IA)]