S. 124 : Jurisdiction of Assessing Officers-Transfer of case from Mumbai to Pune-Order of assessment by Assessing Officer of Mumbai is not valid. [S. 143(3)]
S. 124 : Jurisdiction of Assessing Officers-Transfer of case from Mumbai to Pune-Order of assessment by Assessing Officer of Mumbai is not valid. [S. 143(3)]
S. 92CA : Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-No interest was paid to creditor or supplier nor any interest has been earned from unrelated party-Deletion of addition by the Tribunal is affirmed. [S. 260A]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Marketing intangibles-Deletion of addition by Tribunal-Order of Tribunal is affirmed. [S. 260A]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Exclusion of comparables based on occurrence of financial events and functional dissimilarities is correct.[S.92CA, 260A]
S. 80P : Co-operative societies-Binding precedent-Not following the decision of Supreme Court-Assessment order is not valid-Alternative remedy-Not absolute bar.[S.80P(ii)(d), Art.226]
S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Audit report-Not filed along with the return-Amendment with effect from 1-4-2020-Not raised before the Tribunal-Cannot be raised first time before High Court.[S. 44AB, 80IA(4)(v), 80IA(7) 80AC, 260A, Form No 10CCB]
S. 69C : Unexplained expenditure-Bogus purchases-Purchases through banks-Material purchased was consumed in executing contract-Order of Tribunal restriction of addition to profit element at 12.5 percent alleged bogus purchases is affirmed. [S.44AB, 260A]
S. 68 : Cash credits-Long-term capital gains-Penny stock-Accommodation entries-Deletion of addition by the Tribunal is affirmed-No substantial question of law. [S. 45, 115BBE, 260A]
S. 45 : Capital gains-Non-Resident-Sale of debt instruments in India-Certificate of Singapore Tax Authorities that income from foreign exchange transactions in India be taxable in Singapore-Entitled to exemption-DTAA-India-Singapore.[Art, 13(4), 24]
S. 44BB : Mineral oils-Computation-Presumptive tax-Non-resident-Service tax collected-Not includible in gross receipt. [S.44BB(2)]