S. 132(4): Search and seizure-Statement on oath-Statement recorded during search-Retraction after seven months-No evidence of coercion-Statement admissible.[S. 132]
S. 132(4): Search and seizure-Statement on oath-Statement recorded during search-Retraction after seven months-No evidence of coercion-Statement admissible.[S. 132]
S. 115P: Domestic companies-Tax on distributed profits-Dividend Distribution Tax-Credit-Assessing Officer directed to grant credit after verification.
S. 115JB : Company-Book profit-Amalgamation-General reserve arising on amalgamation not equivalent to accumulated profits-Matter restored-Interest-Levy consequential. [S. 234B, 234C]
S. 92CA : Transfer pricing-Reference to Transfer Pricing Officer-Arm’s Length price-Avoidance of tax-Advertisement, Marketing and Promotion (AMP) expenses-No international transaction beyond agreed reimbursement-Adjustment deleted-Comparables-Functionally dissimilar companies to be excluded-Working capital adjustment-DRP directions binding-Adjustment to be allowed-Royalty-Transactional Net Margin Method accepted-Separate benchmarking under CUP not permissible-Salary of expatriate employees-Secondment-No evidence of services rendered to parent company-Disallowance deleted.[S.37(1), 92C, 144C]
S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Advertisement, Marketing and Promotion (AMP) expenses-Commission to distributors not AMP expenditure-Addition deleted. [S. 92CA]
S. 80-IA : Industrial undertaking-Deduction-To be allowed from gross total income-Order of CIT(A) to allow deduction after verification of claim was held to be proper. [S. 143(3)]
S. 80G : Donation-Charitable institution-Registration-Application filed under wrong clause-Technical error not fatal-Registration directed.[S. 12AA, 80G(5)(vi)]
S. 80G: Donation-Corporate Social Responsibility expenditure-Eligible donation-Deduction allowable-Receipts not produced-Matter remanded for verification.[S. 37(1)]
S. 69C : Unexplained expenditure-Bogus purchases-Burden of proving taxability lies on Revenue-Assessee cannot be called upon to prove a negative-Addition deleted.[S. 145]
S. 69C : Unexplained expenditure-Business expenditure-Bogus purchases-Addition based solely on third-party statements without cross-examination-Not sustainable-Onus discharged by assessee-Burden shifts to Revenue-Addition deleted-Sales accepted-Entire purchases cannot be disallowed-No further addition warranted. [S. 37(1), 142(1), 147, 148]