S. 92C: Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Royalty-Transactional Net Margin Method-Principle of consistency-Matter remanded-Outstanding receivables-Delay beyond agreed credit period-Interest to be benchmarked at LIBOR + 200 basis points.[S.92B, 92CA]

S. 90: Double taxation relief-Non-resident-Government authority-Interest income-Abu Dhabi Investment Authority-Exempt under India-UAE DTAA-Denial based on Truecaller search unsustainable-DTA-India-UAE.[Art. 24(2)(b)(ii)]

S. 90: Double taxation relief-Foreign tax credit-Form No. 67 filed-Substantive compliance-Credit allowable.

S. 69C: Unexplained expenditure-Bogus purchases-Day-to-day stock records, GST documents and banking evidence produced-Sales accepted-Addition deleted-Estimated profit element-Purchase prices comparable with genuine purchases-No basis for estimating profit-Addition deleted.[S. 133(6)]

S. 69A: Unexplained money-Protective addition-Fraudulent bank account operated by third parties-No benefit or control of account by assessee-Addition deleted. [S 206C]

S. 69A: Unexplained money-Cash deposits-Availability of cash from earlier withdrawals-Matter remanded for fresh examination-Reassessment-“Reason to believe”-Prima facie belief sufficient-Reopening valid-Delay of six days was condoned. [S. 147, 148, 254(1)]

S. 69A: Unexplained money-Cash deposits-Deposits made by members of co-operative society-Explanation accepted-Ad hoc addition deleted.

S. 68 : Cash credits-Share capital-Unsecured loan-Established identity, creditworthiness and genuineness of transaction beyond doubt-Addition deleted.

S. 68 : Cash credits-Unsecured loans-Identity, creditworthiness and genuineness established-Addition deleted-Source of source-Requirement not applicable-Addition based on suspicion not sustainable. [S. 131, 133(6)]

S. 68 : Cash credits-Share capital and unsecured loans-Identity, creditworthiness and genuineness established-Addition deleted.