S. 144C : Reference to dispute resolution panel-Assessment-Faceless assessment-Amendment with effect from 1-4-2020-Not a substantive provision-Machinery provision which has been incorporated for the benefit of the assessees including eligible assessee-Assessment proceedings after 1-4-2020, amendment is applicable-Assessment is held to be valid.[S.143(3), 144C(15)(b) (ii), Art. 226]

S. 144C: Reference to dispute resolution panel-Eligible assessee-Final assessment order as accompanied with demand and penalty notices-Order invalid.[S.144C(8), 144C(15), 260A]

S. 144B : Faceless Assessment-Reassessment-Alternative remedy-Question of fact-Writ petition is dismissed-Directed to file statutory appeal.[S. 69C,115BBE, 147, 148,246A, Art.226

S. 143(3) : Assessment-Income-Tax Authorities-High Court-Binding precedent-Decision of High Court is binding on Income-Tax Authorities-Order of Assessment ignoring direction of High Court is not valid [S. 56(2)(viib), Art. 215, 226, 227]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Net margin method-Identical with earlier years-No substantial question of law. [S.260A]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Comparables-Exclusion of companies large and with functional and segmental dissimilarities-Appreciation of facts-No substantial question of law.[S.92CA(3), 260A]

S. 68 : Cash credits-Share capital-Ready to submit relevant documents-Matter remanded to Assessing Officer for fresh consideration. [S. 260A]

S. 68 : Cash credits-Proved genuineness of transactions-Order of Tribunal deleting the addition is affirmed. [S. 260A]

S. 50B : Capital gains-Slump sale-Sale of business as running concern —Sale is not of itemised assets-Transfer of goodwill and know-how did not give rise to capital gains as no cost of acquisition ascertainable-Not liable to tax. [S. 2(42C), 41(2), 45, 50(2), 50B(2) 55(2)(a), 260A]

S. 50B : Capital gains-Slump sale-Sale of business as running concern-Sale is not of itemised assets-Not liable to tax-SLP of Revenue is dismissed. [S. 2(42C), 41(2), 45, 50(2), 50B(2) 55(2)(a), Art. 136]