S. 153A : Assessment-Search-Return filed after date of search-Assessing officer has the jurisdiction to make the assessment whether any incriminating materials were found/seized in the course of search-Failure to explain source of cash deposit in his account and account of minor son-Addition is held to be justified. [S. 68, 132]

S. 144C : Reference to dispute resolution panel-Form no 35A could not be signed by Director-Scanned copy signed by director residing other country-Rejection of Form No 35A was quashed-Directed the DRP to decide the issue on merits. [S. 143(3)]

S. 144C : Reference to dispute resolution panel-Draft Assessment Order-Cannot be assumed to be final assessment. [S. 143(3)]

S. 144C : Reference to dispute resolution panel-Form no 35A not verified properly-Directed DRP to accept the original form and decide on merit. [Form No. 35A No Rule 34(5)]

S. 92C : Transfer pricing-Arm’s length price-Comparable-Computer software developer-RPT of comparable company-Knowledge Process Outsourcing (KPO)-Engineering and consulting services-Manufacturing of software-Functional similarity-working capital adjustment-Matter remanded.

S. 92C : Transfer pricing-Arm’s length price-Fully Compulsorily Convertible Debentures (FCCDs)-Interest adjustment-Interest should be market determined interest rate applicable to currency in which loan has to be repaid i.e. SBI Prime Lending Rate and not LIBOR based interest rate.

S. 80IB: Industrial undertakings-Real estate developer-Sale of opening stock-Estimate of profit to reduce the claim is held to be not justified-Revenue could not use concept of reasonable profit which is subject matter of section 80IA, for purpose of section 80-IB, as object of sections 80IA and 8IB are different. [S. 80IA]

S. 80G : Donation-Hospital and school-Denial of approval is held to be not valid-Remanded to pass a speaking order-Amendment in section 80G is effective from 1-10-2009; thus, approval granted on or after 1-10-2009 would be governed by amended law. [S. 12AA, R. 11AA]

S. 72 : Carry forward and set off of business losses-legitimate claim of set-off of unabsorbed losses cannot be rejected even when assessee omits to claim same in return.[S. 10A, 72(1)(1), 154]

S. 68 : Cash credits-Agriculturist-Cash deposited-Sale deed-Matter remanded-Tax authorities should not take an easy route and place an impossible burden upon assessee-Duty of tax authorities to assist tax compliance which means giving correct advice and following best practices and to attempt collecting tax on basis of ignorance of citizen is not expected from a tax administration. [S.119]