S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Purchase of shares from Associated Enterprise-DCF method-Adjustment is deleted-Transactions under taken by the promoters / share holders of the company-Sale of shares using CUP method-Gap of three months-Matter remanded to the TPO.[ R. 10B(5)]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax- International transaction-Transaction Net Margin Method (TNMM)-Tested party-Loan to Associated enterprise-Adjustment of interest-Matter remanded to the file of the Assessing Officer for de novo adjudication after granting due opportunity of being heard.

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax- International transaction-Sale of electricity from its Power Plant unit to its manufacturing unit-Per unit electricity sold to non-eligible unit at Rs. 6.90 per unit was market value, assessee is justified in adopting ALP of electricity supply to its AEs at rate charged by Gujarat Electricity Board (GEB). [ 80IA(8),92F(ii)]

S. 92BA : Transfer pricing-Specified domestic transaction-Arm’s length price-Avoidance of tax-Omitted with effect from Ist April 2017-No saving clause-Order is bad in law.

S. 90 : Double taxation relief-Long term capital gains-Tax residency certificate-Tax resident of Mauritius with valid TRC and a beneficial owner of income derived from sale of shares, is entitled to treaty benefits, and, thus, capital gain, being exempt under treaty provisions could not be brought to tax in India-DTAA-India-Mauritius [ S.9(1)(1), 45, art, 13(3A), 13(4)]

S. 90 : Double taxation relief-Elimination of double taxation-OECD Model Convention, Art, 25, 23A-No foreign tax paid in India-eligible for tax credit. [ S.40(a)(ii)]

S. 90 : Double taxation relief-Foreign tax credit-Form No. 67 was filed beyond due date of filing of return-Procedural-Not mandatory-Directory-Matter is remanded to Assessing Officer to grant FTC-DTAA-India-Myanmar [ S.139(1), 143(1), R. 128, art.25]

S. 80P : Co-operative societies-Tapping toddy from their farms-Sold through licensed shops-Not entitle to deduction. [S.80P(2)(a), 80P(2)(a)(iii), 80P(2)(a)(vi)]

S. 80P : Co-operative societies-Credit facilities to members-Interest on parking surplus funds in fixed deposits-Interest income is allowed as deduction. [ S. 80P(2)(a)(i)]

S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Liquidated damages-Sale of scrap-Miscellaneous income-Sundry creditors written back-Eligible for deduction.