S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Captive Power Plants (CPPs)-Internal CUP method-Average landed cost of electricity paid to SEBs-Most appropriate method-Corporate guarantee-Arm’s length guarantee fee-0.5 per cent-Order of Tribunal affirmed. [S. 92BA, Rule 10B]

S. 80-IB(10): Housing projects-Date of commencement of construction after 1-10-1998-Eligibility for deduction-Findings of fact-Order of Tribunal affirmed.[S. 260A]

S. 80G : Donation-Renewal of approval under S. 80G(5)(vi) cannot be denied merely because an educational trust collects fees, incurs establishment expenses, or donates to other educational institutions lacking 80G approval, absent change in its charitable activities. [S.11, 80G(5)(vi) [S.80G(5)(vi)]

S.69C: Unexplained expenditure-Reassessment proceedings-bogus purchases-Inability to furnish purchase confirmations, addresses of suppliers-High Court held that the Assessing Officer justified in making additions for disallowance of peak purchases-SLP of assessee dismissed. [S. 69C, 147, 148, Art.136]

S. 69A : Unexplained money-On money-Construction business-Tribunal directed the Assessing Officer to compute on money at rate of 10 per cent of total receipt booked in the books of account-High Court affirmed the order of Tribunal.[S. 132(4), 260A]

S. 68: Cash credits-Addition on the basis of DVO valuation-Property of the assessee neither sold nor transferred-Share transfer between shareholders-No income in the hands of assessee company-The acquisition of an indirect interest in property through share transfer does not divest the assessee of its ownership, and any tax incidence, if applicable, would be confined to the transacting shareholders-Addition deleted.[S. 260A]

S.68: Cash credits-Share Capital-Identity and creditworthiness of Share applicant companies-Financial statements-Deletion of addition affirmed. [S. 260A]

S. 68 : Cash credits-Sale consideration-Tribunal held taxing same again would result in double addition, which was impermissible and accordingly, entire addition under section 68 was deleted. High Court held that considering factual findings arrived at by Tribunal for both Assessment Years, no question of law, much less any substantial question of law arose for consideration. SLP delayed by 392 days. SLP of revenue was dismissed on account of delay as well as on merits [Art. 136]

S. 68 : Cash credits-Share capital received from three companies-Mere proof of identity of investors insufficient-Assessee must establish creditworthiness and genuineness-Tribunal ignored AO’s findings-Addition restored by High court-SLP of assessee dismissed.[Art. 136]

S. 68 : Cash credits-Shares to promoters at premium-Income from other sources-Share premium cannot be assessed as revenue receipt even if assessee had breached provisions of section 78(2) of Companies Act, 1956, it would be penalised by provisions of Companies Act and breach would never turn share premium amount received into a revenue receipt-Share premium cannot be assessed as income from other sources-SLP of revenue was dismissed on account of delay of 271 days and also on merits. [S. 2(24)(xvi)56(2)(vii)(b), Companies Act, 1956, S 78(2),Art. 136]