S. 92C : Transfer pricing-Arm’s length price-Advances to associated enterprises-No interest chargeable-No adjustment is required-Performance bank guarantees-Commission was paid by its subsidiary-No adjustment required. [S. 92CA]

S. 92C : Transfer pricing-Arm’s length price-Comparables-Functional dissimilarity-Excluded. [S. 92CA]

S. 92BA : Transfer pricing-Reference to transfer pricing officer was held to be not valid-Directed to re-examine the issue in terms of section 40A(2)(b) of the Act. [S.40A(2)(b)]

S. 80G : Donation-Religious trust-providing accommodation to persons propagating and disseminating Dharmik Shiksha in society as a whole-Not to particular community or religion-Denial of approval was held to be not valid-Directed to grant approval. [S. 12AA]

S. 72 : Carry forward and set off of business losses-Unabsorbed depreciation loss-Carried forward business loss and unabsorbed depreciation loss should be allowed in accordance with law. [S. 32(2)]

S. 69A : Unexplained money-Survey-Undisclosed income was offered net of expenses excluding expenses claimed in profit and loss account-Set off of business loss and depreciation is to be allowed-Matter remanded. [S. 32, 72, 133A]

S. 68 : Cash credits-Rotation of disclosed funds between group entities-Addition cannot be made as cash credits-Proof of creditworthiness was supplied-Addition cannot be made without making further enquiry. [S. 133(6)]

S. 54EC : Capital gains-Investment in bonds-Invested Rs.50 lakhs in two different financial years-Entitle to deduction in both the years-Amendment is effective from assessment year 2015-16 and not applicable to earlier years. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Long term or short term-Period of holding to be reckoned from date of allotment. [S. 2(29A), 2(29B), 2(42A), 2 (42B), 45]

S. 50B : Capital gains-Slump sale-Amalgamation of Companies- Subsidiary-Balance consideration received from escrow agents by subsidiary after amalgamation on behalf of erstwhile Chennai Company-Taxed in hands of erstwhile Chennai company at Chandigarh -cannot be taxed again in hands of subsidiary in Chennai [S. 2(19AA), 2(42C), 72A]