S. 92C : Transfer pricing-Arm’s length price-Comparables-Data could be compared from audited accounts of companies-Working Capital adjustment-Failure to consider correct figures while Computing adjusted margin-Directed to consider correct figure. [S. 92CA, 234B]
S. 92C : Transfer pricing-Arm’s length price-Comparables-Companies having no segmental information or subject to extraordinary event or companies fully involved in related-party transactions-Not comparable. [S. 92CA]
S. 92C : Transfer pricing-Arm’s length price-Arm’s Length Price-Comparables-Functionally distinct with different areas of development and services-Cannot be benchmarked-Directed to exclude two comparables and include one comparable based on appreciation of evidence. [S. 92CA]
S. 69C : Unexplained expenditure-Bogus purchases-Books of account not rejected-Identity of party established and genuineness of transactions proved-Deletion of addition is justified. [S. 145]
S. 68 : Cash credits-Cash deposit in bank-Past withdrawals-Household withdrawals explained-Addition is held to be not valid.
S. 68 : Cash credits-Unsecured loans-Proved identity creditworthiness and genuineness of transactions-Relying on statement of third parties without giving an opportunity of cross examinations, additions cannot be made. [S. 131]
S. 68 : Cash credits-Share application money-Addition was deleted on merits-Reassessment valid. [S. 68, 147, 148]
S. 45 : Capital gains-Transfer-Redemption-Indexation-Redemption of preference shares is a sale and also transfer of relinquishment of asset by share holder-Assessable as capital gains and not as income from other sources. [S. 2(47), 48, 56]
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Bank guarantee commission and credit card commission-Deducted by Banks-No disallowance can be made.
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Non-Resident rendering services of Information Technology infrastructure-Royalty-Liable to deduct tax at source-Disallowance is justified-DTAA-India-Portugal. [S. 9(1)(vi)]