S. 92C : Transfer pricing-Arm’s length price-TPO passing the order without following the Direction of the Appellate Tribunal-Alternative remedy is available-Writ is not maintainable-Order of single judge rejecting the Writ petition is affirmed. [S. 92CA, 143, 144C, 148, Art. 226]

S. 80IC : Special category states-Consumption of electricity-Mismatch of production-Denial of exemption is held to be not justifies.

S. 80IB : Industrial undertakings-Failure to provide details of number of workmen working in each units in form No. 10CCB-Denial of exemption is held to be not valid. [Form no. 10CCB]

S. 70 : Set off loss-One source against income from another source- Same head of income-Could be set off against income of assessee under same head from other unit not eligible for deduction under said section- Matter remanded to the Tribunal. [S. 10B, 71, 80B(5), 80IC]

S. 56 : Income from other sources-Interest-Short term deposits-Pre -operative period before commencement of business-Assessable as income from other sources.

S. 54F : Capital gains-Investment in a residential house-investment in a residential house in USA prior to 1-4-2015-Entitled to claim exemption. [S. 45]

S. 49 : Capital gains-Previous owner-Cost of acquisition-capital asset not having become property of assessee-Gift not proved by registered document-SLP of assessee is dismissed. [S. 45]

S. 48 : Capital gains-Computation-Transfer of consideration to EMR Mauritius for benefit of certain employees and ex-employees of seller company-Not allowable as deduction. [S. 45]

S. 37(1) : Business expenditure-Foreign travel expenses-promotion of business-legal and professional fees-Expenditure for replacement of part of machine-Held to be allowable as business expenditure.

S. 37(1) : Business expenditure-Miscellaneous expenses-Adhoc disallowance-Not substantiated by producing evidence-Ad hoc disallowance is held to be justified.