S. 92C : Transfer pricing-Arm’s length price-Functionally dissimilar companies cannot be taken as comparable-Outstanding receivable-Debt free company-Adjustment made on interest on receivables not sustainable-Appellate Tribunal-Additional ground admitted-Education cess-Allowable as deduction. [S. 37(1), 40(a)(ii)]

S. 92C : Transfer pricing-Arm’s length price-Adjustment was made on the basis of Location saving-Matter remanded-Inter group services-Justified in making the adjustment. [S. 92B]

S. 92C : Transfer pricing-Arm’s length price-Raw material from related parties-Arithmetical Mean Rate-Lowest or minimum rate-Deletion of addition is held to be justified. [S. 92C(2)]

S. 80IC : Special category States-Substantial expansion-Initial assessment year-Previous year in which substantial expansion undertaken would became initial assessment year-Entitled to 100 Per Cent. deduction from that assessment year subject to maximum period of ten years.

S. 80IB(10) : Housing projects-Completion certificate-Application for issuance of certificate and fees was paid within time specified-Delay in issuance of certificate by Municipal corporation-Occupancy certificate deemed to have been issued-Entitle to deduction-Project for which building completion application was made 4-7-2014, schedule date of completion was 31-3-2014-Denial of exemption was justified-Entitle to deduction in respect of flats not exceeding area of 1500 Sq. ft-Delay in filing the appeal was condoned. [S. 254(1)]

S. 69 : Unexplained investments-Cost of construction of residential property-Amount spent from out of salary savings-Addition was held to be not justified.

S. 69 : Unexplained investments-Bogus purchases-Purchase and sale of diamonds-Report of investigation wing-Addition of 100 percent of total transactions was deleted, only addition of Rs. 20,000 was confirmed. [S. 143(3)]

S. 68 : Cash credits-Creditors for purchases-Sales made accepted-Payment made in subsequent year was accepted-Books of account not rejected-Addition cannot me made merely because there was increase in creditors.

S. 68 : Cash credits-Creditors-Confirmation and ledger copy was produced-Outstanding balance was written back and offered as income in latter years-Addition was deleted.

S. 68 : Cash credits-Creditors withdrawing and depositing in the bank account of the assessee-Addition cannot be made as cash credits.