S. 143(2) : Assessment–Notice-Non service of notice with in limitation period–Order is bad in law-Provision of S.292BB cannot be invoked since assessee neither appeared nor co-operated in inquiry during assessment proceedings as the order was passed u/s. 144 of the Act. [S. 144 , 292BB, Art. 226]

S. 115JA : Book profit-Provision for bad and doubtful debts is a provision for unascertained liability, and thus, same could not be excluded while computing book profits-Provision made for payment of purchase tax, payment of purchase tax on cane subsidy and provision for wealth tax, in anticipation of Government Notification, were provisions for unascertained liability, liable to be added back while computing book profits. [S. 36(1)(vii)]

S. 92CA : Reference to transfer pricing officer – AO is not bound to pass draft assessment order in tune with arm’s length price fixed by TPO-AO having rejected valuation of shares made by TPO, made addition to assessee’s income in respect of excess price paid for buy-back of shares-Writ was dismissed-liberty is given to the to the assessee raise all the issues before the Dispute Resolution Panel. [S. 2(22) (iv), 46A,56(1), 92CA 94, 115QA, 144C, Companies Act, 1956, S.72A, R.11UA, Art. 226]

S. 92C : Transfer pricing-Arms’ length price-Services of application design, software engineering and technology cannot be compared with a company providing software support services.

S. 92C : Transfer pricing–Transportation cost-Not able to establish that cost of transportation in comparable case was lesser than assessee-Adjustment is held to be valid. [S. 260A]

S. 92C : Transfer pricing–Guarantee commission-Comparison can be made between guarantees issued by commercial Banks as against a corporate guarantee issued by a holding company to benefit of its Associated enterprises-Bench mark fixed by TPO at 3 percent is held to be correct. [S. 92CA(3), R.10B]

S. 80P : Co-operative societies-Primary Agricultural Credit Society –Interests from loans and advances-Matter remanded [S.80P(2)(a)(i), Kerala Co-operative Societies Act, 1969.]

S. 80IB(11A) : Undertaking–Business of processing , preservation and packaging of fruits or vegetables-Business of manufacturing and exporting honey is eligible to claim deduction.

S. 69C : Unexplained expenditure–Purchase of land jointly with another person-Assessee could be asked to explain only 50% of his share and not source of other person who has invested another 50%.

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record – Unexplained money –Gifts- Admission by partner- Addition is held to be justified- Rejection of miscellaneous application is held to be justified . [ S. 69A, 132(4), 158BB, 260A ]