S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-
International transaction-Written Down Value of assets as may be reflected in books would not be liable to be taken into consideration while answering issue of ALP-No substantial question of law. [S. 260A, R.10B]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax- International transaction-AMP expenses-High Court held that approach of TPO of determining ALP of such AMP expenditure either on BLT bases or TNMM could not be sustained-SLP is granted to the Revenue. [S.92B, Art. 136]

S. 80IB : Industrial undertakings-Services to buyers by way of repair and maintenance of moulds sold to them and charged job work charges for such services-No direct nexus with business activity of manufacture and sale of moulds-Not entitle to deduction.[S. 260A]

S. 80IA : Industrial undertakings-Infrastructure development-Sale of various items of scrap-Eligible deduction-Tax effect is below threshold limits-SLP of Revenue is dismissed. [S. 80HH, 268A, Art. 136]

S. 80HHC : Export business-Interest from business debtors-Allowable as deduction-Tax effect is below threshold limits-SLP of Revenue is dismissed. [S. 268A, Art. 136]

S. 80HHC : Export business-When certain profit is to be excluded from claim of deduction under sections 80HH, 80I and 80HHC, it is not gross profit but net thereof, that is, gross profit minus expenditure incurred for earning such profit which should be excluded-Tax effect is below threshold limits-SLP of Revenue is dismissed.[S. 80HH, 80I, 268A, Art. 136]

S. 80G : Donation-CBDT, vide Circular No. 8 of 2022 dated 31-3-2022, extended time limit with respect to both existing trusts and new trusts for registrations under sections 10(23C), 12A and 80G(5)-CBDT circular did not grant extension to new trusts for filing forms for application-Clause 5(ii) of circular No. 6/2023, dated 24-5-2023 was arbitrary and violative of article 14 of Constitution of India and accordingly, would be ultra vires Constitution. [S.10(23C), 12A, 80G(5), 119(2)(b), Art. 14, 226]

S. 69 : Unexplained investments-Photocopy of an alleged agreement to sell-Addition is not justified-Order of Tribunal deleting the addition is affirmed.[S.260A]

S. 68 : Cash credits-long term capital gains-Penny stock-Bogus claim-Sulabh Engineers & Services Ltd-Order of Tribunal is affirmed-High Court cannot be converted into an Appellate Tribunal to examine the factual issue which was not placed before the Tribunal or lower Authorities-No substantial question of law. [S. 45, 260A]

S. 68 : Cash credits-Principle of natural justice-Adjournment application is not considered-Order is set aside [S. 143(3), Art. 226]