S.92C: Transfer pricing — Arm’s length price — Reimbursement of expenses- Addition is held to be not valid .

S. 80P : Co-operative societies – Member of Federation- Bonus- Dividend —Bonus to be considered as dividend- Assessing Officer is directed to verify the nature of the bonus received .[ S.80P(2) (d)

S. 68 : Cash credits – Share application money — Share premium – Not establishing the creditworthiness – Investment through conduit of investor companies-Addition is held to be justified .

S.54F : Capital gains- Investment in a residential house -Vacant land – Not residential property – Entitle to exemption- Cost of acquisition — Fair market value ass on 1-4-1981 —Higher than guidelines value – Estimate is held to be reasonable . [S.45, 55(2)(b) (1) ]

S.54F : Capital gains- Investment in a residential house – Joint account – Denial of exemption is held to be not justified [ S.45 ]

S. 54EC : Capital gains – Investment in bonds -Time limit for investment is six months from date of transfer- two financial years -Entitle to exemption – Amendment by Finance (No. 2) Act, 2014 applies prospectively. [ S. 45 ]

S. 50C : Capital gains – Full value of consideration – Stamp valuation -Agricultural land – Not a capita asset- A sale consideration more than the district committee rate – Addition cannot be made – Revision is held to be bad in law . [ S. 2(14), 45, 263 ]

S. 50C : Capital gains – Full value of consideration – Stamp valuation -Property purchased from the funds of the firm – Procuring agent and not owner – Addition cannot be made – Matter remanded for verification [ S.45 ]

S.45: Capital gains — Long-term capital gains —Sale of property taking place 11-4-2011 — Capital gains assessable in the year 2012-13 and not in the year 2008-09 . [ S. 2 (47 ) ]

S. 40(a)(ia): Amount not deductible -Deduction at source – Fees for professional or technical services – Discount offered to distributors – Non -Resident – Not liable to deduct tax at source- Allowable as expenditure [ S. 9(1) (vi), 37(1) , 194J , 195 ]S. 40(a)(ia): Amount not deductible -Deduction at source – Fees for professional or technical services – Discount offered to distributors – Non -Resident – Not liable to deduct tax at source- Allowable as expenditure [ S. 9(1) (vi), 37(1) , 194J , 195 ]