S. 92C : Transfer pricing – Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Entertainment business- Royalty Payment-Transfer Pricing Officer cannot examine commercial expediency. Royalty payable under licence agreement. No question of law arose regarding disallowance on account of royalty paid by assessee to associated enterprises. Order of Tribunal affirmed. [S. 9(1)(vi), 260A]

S. 92C : Transfer pricing – Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Arm’s length price-No substantial question of law.[S. 260A]

S. 92C : Transfer pricing – Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Principle of natural justice-Notice and grant of approval by Principal Commissioner quashed and set aside-Matter remanded to Assessing Officer for considering matter afresh after hearing assessee and thereafter to pass speaking order.[S.92CA(1), 92CA(2), 92CA(3), Art. 226]

S. 69A : Unexplained money-Post-demonetisation deposit of old currency notes-Cash book balance insufficient to explain deposit – Failure to explain the source – Addition was affirmed.[S. 260A]

S. 69A : Unexplained money – Denominations – Details not maintained – Nature of source of cash deposit was not explained satisfactorily – SLP of assessee dismissed. [Art. 136]

S. 45 : Capital gains-Accepted cost of acquisition – Difference between intrinsic value of shares and amount paid by assessee cannot be taxed as perquisites – Order of Tribunal deleting the addition is affirmed. [S. 2(24)(iv), 260A]

S. 40A(3) :Expenses or payments not deductible-Cash payments exceeding prescribed limits-Payments to agents cannot be disallowed – Order of Tribunal set aside. [ITR, 1962 R. 6DD, Indian Contract Act, 1872, S. 182.]

S. 37(1) : Business expenditure-Foreign exchange rates Expenses incurred on account of foreign exchange fluctuation and interest thereon in respect of foreign currency loans-Allowable business expenditure-Order of Tribunal set aside-Travelling expenses-Expenses incurred towards foreign tour of executives accompanied by their spouses-Major portion of claim allowed by Commissioner (Appeals)-Miniscule amount being involved order of Tribunal, affirmed.

S. 37(1) : Business expenditure-Provision for warranty – Deletion of addition by the Tribunal is affirmed.