S.145: Method of accounting – Estimation of commission income at a higher rate merely on basis of presumption that assessee had shown a very small margin without any convincing evidence is not sustainable- Mismatch in figures between balance-sheet of assessee and balance-sheet of other parties — Difference cannot be assumed unexplained income . [ S. 68, 145(3) ]

S.143(3): Assessment — Conversion of limited scrutiny into complete scrutiny -Principal Commissioner according approval in a mechanised manner — CBDT instructions- Violation of instruction No. 5 Of 2016 dt 14-7-2016 [2016 385 ITR (St.) 56 . [ S.142(1) , 144A, 292BB]

S.115JB: Book Profit- Sick Industrial Company —Discharged by Board for Industrial and Financial Reconstruction – Net worth turning positive – Matter remanded to the file of Commissioner (Appeals) to decide on merit by passing speaking order. [Sick Industrial Companies [S. 40(a) )(ia), Special Provisions) Act, 1985, S. 17(1) ]

S.92C: : Transfer pricing – Arm’s length price – Royalty -Paid for basket of services — Adjustment is held to be not justified -Advertising, marketing and promotion of sales expenses —No proof of existence of International Transaction —Adjustment made in respect of advertising marketing and promotion of sales expenses to be deleted -Expenses reimbursed matter remanded [ S.92CA ]

S. 80IC : Special category States -Sale of scrap — Scrap produced during manufacture —Eligible to deduction- Disallowance of interest -Quantification -Matter remanded . [ S.80IB ]

S.80IB : Industrial Undertaking — Apportionment of expenses between eligible and non-eligible units — Held to be proper .

S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation – Amalgamation – revised return after order form High Court – Entitled to set off and carry forward of accumulated losses and unabsorbed depreciation [ S.2(19AA) , 32(2) ,72A(4) , 139(3) ]

S. 69B : Amounts of investments not fully disclosed in books of account – Survey -Hotel business- Telescoping- Entitle to Depreciation on eligible on hotel building- Matter remanded . [ S.133A ]

S. 69B : Amounts of investments not fully disclosed in books of account –Valuation of buildings — Difference between value estimated by valuation Officer and that stated by assessee Being Less than 15 Per Cent. — No addition could be made. [ S.132 ]

S. 69A : Unexplained money – Cash balances – Seized material – Matter remanded [ S. 132(4A) 153A ]