S. 124 : Jurisdiction of Assessing Officer-Place of filing of e- returns- Registered office at Mumbai–Branch office at Indore–e- returns from inspection filed at Indore–Notice issued u/s. 143(2) by the Indore Assessing Officer is held to be valid-Rejection of application by Chief Commissioner is held to be justified. [S. 143(2)]

S. 92CA : Reference to transfer pricing officer-Jurisdiction of TPO- Whether can examine any transaction which come to his notice during course of proceedings though not referred to him by the AO- Passing ad-interim relief, the AO is prevented from passing any further orders till issue raised is decided by the Court. [S. 92C]

S. 92C : Transfer pricing–Arm’s length price-Corporate guarantee- Arm’s length price of corporate guarantee cannot be determined on the basis of bank guarantee- Adjustment of 3% of the amount of guarantee given by the assessee is held to be not justified.

S. 69C : Unexplained expenditure–Survey-Confessional statement of assessee’s brother who is an employee of the assessee–Gross profit shown was much lesser than profit in said line of business- Unaccounted receipts–Addition of sales instead of net profit thereon – Failure to provide stock register-Addition is held to be justified. [S. 133A]

S. 69A : Unexplained money–On money-Loose documents–There was no reliable or independent evidence to come to the conclusion that the assessee had accepted on-money in the sale of the constructed properties–Deletion of addition by the Tribunal is up held.

S. 37(1) : Business expenditure-Deputation and other cost-Hotel management and marketing fees-Reasonable and necessary to run business- Held to be allowable.

S. 32 : Depreciation-Licenses, permits, approvals-Intangible- Purchased in slump sale-Depreciation is allowable at rate of 25 per cent.

S. 28(i) : Business income–Royalty-Addition cannot be made in respect of which no services were rendered.

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income of relevant year- Instead of taking into account total investment, investment attributable to dividend was required to be adopted an thereafter disallowance was to be arrived. [R. 8D]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions – Funds utilised for purchase of car in name of its trustee-Denial of exemption should be limited only to amount which was diverted in violation of S. 13(2)(b) of the Act. [S. 11, 132 (2)(b)]