S. 143(3) : Assessment-Amalgamation-Assessment order made in name of amalgamating company-Entity non-existent on date of passing of order-Order null and void.

S. 92C : Transfer pricing-Arm’s length price-Comparable-Having vastly higher turnover cannot be used-Amalgamation not reason For exclusion-Income-tax Authorities-Transfer Pricing Officer-Include additional Commissioner-Order passed by Additional Commissioner is valid. [S. 2(28C), 92CA, 117(1)]

S. 92C : Transfer pricing-Arm’s length price-Comparable-Loss making companies to be excluded-High margin cannot be excluded unless backed by certain extraordinary events-Risk adjustment to be considered-Adjustment to be worked out applying average profit level indicator of comparables to cost of international transactions and not on its sale turnover.

S. 92C : Transfer pricing-Arm’s length price-Interest receivable from associate enterprise for delay in payment-Addition is not justified when requisite adjustment made to working capital.

S. 80P : Co-operative societies-Return filed in response to notice under section 148-Deduction cannot be denied-Interest earned from funds belonging to members-Deduction allowable. [S. 80A(5), 80P(2)(a)(i), 147, 148]

S. 68 : Cash credits-Inspector’s report not furnished and opportunity of cross examination not provided-Violation of principle of natural justice-Addition was deleted. [S. 131, 133(6)]

S. 56 : Income from other sources-Appellate Tribunal-Additional grounds-Shares in excess of fair market value of shares-Start-Up Companies-Consolidated circular of Central Board of Direct Taxes dealing with assessment of Start-Up Companies-Matter remanded to CIT(A). [S. 56(2)(viib), 254(1)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Scheduled Tribes-Not liable to deduct tax at source as the receipt is not taxable in their hands-Payments to other persons matter remanded to the AO to verify whether payees had included receipts in computation of their total income. [S. 10(26), 195(7)]

S. 37(1) : Business expenditure-Environmental, Travelling, Office maintenance expense-Matter remanded to the Assessing Officer.

S. 37(1) : Business expenditure-Abandoned project-Link with existing business-Allowable as deduction-Payment of bonus commensurate with efforts-Allowable as deduction. [S. 36(2)]