S. 92C : Transfer pricing-Arm’s length price-Comparable-Software development-Size and economies of scale/high risk companies-Functionally different-providing Information Technology Enabled Services (ITES) To be excluded from final list of comparables-Working capital adjustment was directed to be allowed on actual basis.
S. 92C : Transfer pricing-Arm’s length price-AMP expenses-TPO cannot be debarred from examining said international transaction with respect to arm’s length price.[S. 92B]
S. 92C : Transfer pricing-Arm’s length price-Addition of 10 percent-Allocation of expenses-Held to be not justified.
S. 92C : Transfer pricing-Arm’s length price-Comparable-Tested party-Cost Plus Method (CPM)-Audit of segmental accounts-Cannot be rejected on the ground that the Accounts of overseas entities were not audited.
S. 92C : Transfer pricing-Arm’s length price-Comparable-Matter remanded to the TPO-Turnover cap-Goodwill-Loss making companies-Size and Economies of Sale/High Risk Companies.
S. 92C : Transfer pricing-Arm’s length price-ITES services did not form a single composite transaction-Transactions cannot be aggregated-Extended credit period-Addition of notional interest is held to be not justified.
S. 92C : Transfer pricing-Arm’s length price-Loan and advance-Interest-CUP method-Reimbursement of expenses-No adjustment can be made-Corporate guarantee was extended by assessee as a shareholder activity-No adjustment can be made. [S. 92B]
S. 80P : Co-operative societies-Deposit from members-Assessing Officer passing the order, without verifying the licence to carryon banking business-Matter remanded to the Assessing Officer. [S. 80P(2)(a)(i)]
S. 69A : Unexplained investment-Jewellery-Weight of jewellery allowed as per instruction No 1916, dt. 11-5-1994 need not be explained-Addition cannot be made-Over and above the quantity of the jewellery has been explained, no addition can be made.
S. 68 : Cash credits-Share capital-Mere submission of name and address of creditor, income tax returns, balance sheet/statement of affairs of creditor and bank statement of creditor is not sufficient.