S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Determination of ALP by Tribunal can be subjected to scrutiny by High Court in an appeal-Matter remanded to High Court. [Art. 136]

S. 80P : Co-operative societies-An apex co-operative society within meaning of State Act, 1984-Primary object is to provide financial accommodation to its members who were all other co-operative societies and not members of public-Not a co-operative Bank-Entitle to deduction. [S.80P(2)(a)(i), 80P(4), Banking Regulation Act, 1949, S.56, Kerala Co-operative Societies Act, 1969]

S. 80IB(10) : Housing projects-Sepaarate completion certificate to each unit-Eligible for deduction. [S.260A]

S. 80IA : Industrial undertakings-Infrastructure development-Market value of electricity supplied by CPP Unit to general unit would be same being charged by GEB from consumers and it ignored rate on which power generating company supplied its power to GEB.[S.80IA(8)]

S. 69 : Unexplained investments-Undisclosed liability-Deletion of addition by the Tribunal is affirmed. [S.69A, 69B, 69C, 132]

S. 69 : Unexplained investments-Capital-Loan-No incriminating material was found-Block assessment order-Deletion of addition by the Tribunal is affirmed by the High Court on merit. [S. 68, 148, 260A]

S. 68 : Cash credits-Settlement Commission-Undisclosed income-Bogus share capital-Undisclosed income taxed in the assessment of flagship company-Deletion of addition by the Tribunal is affirmed. [S. 132(4), 245D, 260A]

S. 56 : Income from other sources-Valuation of shares-Book value of assets-.Formula adopted by the Assessing Officer is not applicable to the relevant assessment year-Order of Tribunal deleting the addition is affirmed by the High Court. [S. 56(2)(viib), R.11UA]

S. 54F : Capital gains-Investment in a residential house-Non-resident India-Sale of residential flat-Invested sale proceeds from same, in a residential house in USA within specified period-Entitle to exemption-Amendment in section 54F by Finance (no.2) Act of 2014 imposing condition that assessee should invest sale proceeds arising out of a sale of capital asset in a residential property situated ‘in India’ within stipulated period is prospective in nature-Rejection of revision application is not valid-Entitle to exemption..Interpretation – Legistaive intend – Amending the provision- Retrospectivity – Not unless expressly stated and clearly implied .[S. 5(2), 139(5), 143(1), 254, 264, Art. 226]

S. 54B : Capital gains-Land used for agricultural purposes-Purchased land in name of wife-Not entitle to exemption. [S. 45]