S.92C: Transfer pricing – Comparable- While deterring ALP of components and parts exported to AE which are used in manufacturing of two wheelers cannot be compared with sale of finished goods in domestic market.

S.50C: Capital gains – Full value of consideration – Stamp valuation- When the assessee is protesting the valuation by Stamp authority and requesting the refer to Department volition Officer , the AO is bound to make the reference to Department Valuation Officer , accordingly the deletion of addition was held to be justified . [ S.45 ]

S.37(1): Business expenditure – Capital revenue- Opening of new stores /outlets expenditure on salaries , machinery and other repairs , travelling conveyance professional fees , electricity expenses telephone expenses etc is held to be revenue expenditure .

S. 12AA : Procedure for registration –Trust or institution-Genuineness of Trust is established – Registration cannot be refused [ S. 2(15),12A ]

S. 11 : Property held for charitable purposes – Depreciation- Income to be computed in normal commercial manner without classification under various heads referred in S.14 of the Act. [ S.14, 32 ]

Interpretation -Communication of Ministry of Commerce can be relied on – Inland ports.

S. 47A : Capital gains – Withdrawal of exemption – Conversion of proprietary concern in to company – Only licence to use Brand name – When exemption from capital gain was not claimed -Deletion of addition was held to be justified [ S.47 ]

S. 260A : Appeal – High Court – Jurisdiction and limitation issue can be raised for the first time in appeal [ S.153C, 253 ]

S. 271AAA : Penalty – Search initiated on or after 1st June, 2007 –When no specific query to substantiate the manner of earning undisclosed income was put forward to the assessee by the authorised officer levy of penalty was held to be not valid when the taxes were paid on the amount surrendered [ S.132(4) ]

S.45: Capital gains- Amount received on transfer of rights to carry on any business is taxable as capital gain and not as business income [ S.28(va),54EC ]