S. 143(3) :Assessment-limited scrutiny-Disallowance of expenditure-Exempt income-Suo moto disallowed the expenditure-Not part of reasons for limited scrutiny-Capital gains-Short term loss-Suo moto disallowed the expenditure-Disallowance made by the Assessing Officer is deleted. [S. 14A, 28(i), 45, 143(3), R. 8D]

S. 143(3): Assessment-Non existing company-Merger-Assessment was invalid and quashed. [S. 170]

S. 143(1) : Assessment-Intimation –Payment of bonus-adjustment made under section 143(1) was incorporated in assessment framed under section 143(3) without taking into cognizance of adjustment made by CPC in intimation-Matter is set aside to file of Assessing Officer for fresh adjudication as per provisions of law.[S. 143(3)]

S. 92B : Transfer pricing-International transaction-Arm’s length price-Avoidance of tax-Interest on outstanding receivables is an international transaction-Separate benchmarking-Appropriate rate of interest would be LIBOR + 200 basis point. [S.92C]

S. 90 :Double taxation relief-Filing of Form No. 67 read with rule 128 is only directory in nature and not mandatory-Belated filing of Form No. 67 would not bar claim of Foreign Tax Credit (FTC)-Dividend income from USA based company-Rate of tax on said income is already prescribed under India-USA DTAA, same shall prevail over and above normal tax rate provided under Income-tax Act-DTAA-India-USA. [S. 143(1)(a), Art. 10, 25, R. 128, Form No 67]

S. 80P : Co-operative societies-Marketing of sugarcane produced by its members-Commission from sugar mills on supply of sugarcane by its members-Derived from-Business receipt-Eligible for deduction. [S. 56, 80P(2)]

S. 80P : Co-operative societies-Return was not filed within due date-PCIT condoned the delay-issue was to be remitted to Assessing Officer.[S.80AC, 119, 139(1)]

S. 80G : Donation-Wrongly applied for provisional registration under new regime-Matter remanded to the Commissioner (E) for de novo adjudication. [S.80G(5),Form No.10AB]

S. 80G : Donation-Provisionally approved-Inadvertent and clerical error-Matter remanded to Commissioner (E) to grant an opportunity to assessee to file revised application under clause (iii) of first proviso to section 80G(5). [S.80G(5)]

S. 80G : Donation-Failure to file reply to discrepancies-Matter is remanded back Commissioner (Exemption) to grant one more opportunity of hearing. [S.11, 12A, 80G(5), Form No. 10AB]