S. 145: Method of accounting-Business expenditure-Real estate developer-Project completion method-Percentage completion method-Consistent method of accounting accepted in earlier year-No justification to change method-Addition deleted.[S. 28(i),37(1), Accounting Standard-9.]

S. 145 : Method of accounting-Change in accounting policy for long-term insurance policies-Deferred recognition of premium-Addition upheld.

S. 144C : Reference to dispute resolution panel-Assessment-Directions of Dispute Resolution Panel-Final assessment order passed beyond statutory time-limit-Order barred by limitation and void.[S. 144B, 144C(5), 144C(13)]

S. 143(2) : Assessment-Notice-First notice returned unserved-Second notice issued beyond limitation-No valid service within prescribed time-Assessment without jurisdiction.[S. 143(3)]

S. 115JB : Company-Book profit-Insurance company-Reserve for unexpired risks and premium deficiency-No adjustment permissible under Explanation 1-Addition deleted.

S. 92BA : Transfer pricing-Specified domestic transaction-Arm’s length price-Avoidance of tax-Captive power plant-Transfer pricing-State Electricity Board tariff not comparable-Arm’s Length Price to be determined on internal comparable-Eligible business-Non-claim of deduction under section 80-IA-Does not exclude applicability of section 92BA.[S.80IA(8), 80IA(10), 80IB 92CA, R. 10B]

S. 90 : Double taxation relief-Non-resident-Delaware Limited Liability Company-Fiscally transparent entity-Liable to tax in USA-Treaty benefits available-DTAA-India-USA.

S. 69C: Unexplained expenditure-Bogus purchases-Books of account accepted by Commissioner (Appeals)-Purchases at prevailing market rates-No profit embedded-Addition deleted.[S.133(6) 145(3)]

S. 69C : Unexplained expenditure-Cash payments reflected in seized documents duly reconciled with books of account-Addition rightly deleted-Recovery from farmers towards unloading charges-Common trade practice-No evidence of receipt by assessee-Addition deleted-Cash receipts and sale of de-oiled cakes-Entries reflected in books-No rebuttal by Assessing Officer-Addition deleted-Additional income voluntarily surrendered-Telescoping against additions-Separate addition not justified-Excess stock-Difference only in valuation and not quantity-Books not rejected-Addition deleted. [S.68, 132, 145(3)]

S. 45 : Capital gains-Capital loss-Demerger-Transfer of assets and liabilities to Special Purpose Vehicles-Conditions of demerger not fulfilled-Long-term capital loss allowable.[S.2(19AA, 47]