S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Transfer pricing adjustment on basis of transactions where prices charged to Associated Enterprises was less than that charged to unrelated parties-Contrary to legal provisions-Deletion of upward transfer pricing adjustment by the Tribunal is affirmed. [S.92, 260A]

S. 69 : Unexplained investments-Share capital-Addition made based on unproven and untested statements recorded during searches-Onus to prove investments bogus not discharged-Deletion of addition proper.[S. 132, 260A]

S. 68: Cash credits-Share premium-Identity and credit worthiness established-Purchases from unregistered dealers-Gross profit declared-Order of Tribunal is affirmed. [S. 260A]

S. 68 : Cash credits-Creditworthiness established-Some of the lenders replied in notice issued by the Assessing Officer-Order of Tribunal deleting the addition is affirmed.[S.133(6), 260A]

S. 68 : Cash credits-Sale of shares-Bogus loss-Penny stocks-Payments made through banking channel-No evidence of agreement to convert unaccounted money by taking fictitious loss-Order of Tribunal deleting the addition is affirmed-No substantial question of law. [S. 260A]

S. 68 : Cash credits-Share transactions-Tribunal misdirected itself and made an addition on presumptive income-Matter remanded back for de novo examination. [S. 254(1)]

S. 56 : Income from other sources-Consideration received for shares in excess of fair market value-Allotment of new shares as right is creation of property cannot be considered as transfer-Section 56(2)(vii)(c) not applicable on new allotment of shares-Issue of additional shares for renunciation of rights issue-Wife/Father fall within definition of ‘relatives’ excluded-Order of Tribunal is affirmed. [S. 56(2)(vii)(c), 260A]

S. 47(iv) :Capital gains-Transaction not regarded as transfer-Capital gains Subsidiary-Prerequisites provided to Indian subsidiary company-Assessee inadvertently offered receipt for levy of tax-Tax could not be levied as receipt did not constitute income-Income-tax leviable only in accordance with provisions of Income-tax Act-Admission by assessee is not conclusive. [S.4, 45]

S. 45:Capital gains-Business income-Total income-Redemption of mutual fund units-Income taxable as capital gains and not as business income. [2(45), 28(i), 260A]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Genuineness of transaction was in doubt-Order of Tribunal is affirmed. [R.6DD(j)]