S. 92C : Transfer pricing-Arm’s length price-Comparable-Functionally similarity-Safe to exclude it from final list of comparables to assessee who had been following fixed price project model-turnover filter of Rs. 1 crore, companies having turnover of more than Rs. 200 crores have to be excluded.

S. 92C : Transfer pricing-Arm’s length price-Foreign exchange fluctuation gain/loss be treated as an operating income / expenses-Comparable-Rejection of comparable was held to be not valid-Failure to provide annual report-Rejection of comparable was held to be valid-Customers whose segmental information was not available. could not be accepted as valid comparable-a comparable company engaged in purchase and sale of products could not be accepted as valid comparable-TP adjustment, if any, has to be restricted to international transactions of assessee with its Associated Enterprises only. [S. 92A]

S. 92C : Transfer pricing-Arm’s length price-Resale method-Trading in India-Matter remanded.

S. 92C : Transfer pricing-Arm’s length price-Order passed without giving any finding-Matter remanded. [S. 254(1)]

S. 92C : Transfer pricing-Arm’s length price-Interest free loan to Associated enterprises-Libor rate is to be applied-Corporate guarantee-Guarantee commission/fee to be charged at 0.5 per cent. [S. 92B]

S. 80IC : Special category States-Substantial expansion-entitle to deduction. [S. 80IC(8)(ix)]

S. 73A : Carry forward and set off of losses by specified business-Loss can be set-off another unit which was not eligible for deduction.

S. 73 : Losses in speculation business-Purchase and sale of securities-Loss on account of its clients-Loss cannot be treated as speculative in nature. [S. 28(i)]

S. 56 : Income from other sources-Shares at premium-Valuation was done as per the certificate of the Chartered Accountant-Addition was held to be not justified. [S. 56 (2)(viib), R. 11UA]

S. 56 : Income from other sources-Shares issued at premium-Valuation report from Chartered Engineer-Report was not filed at the time of original assessment proceedings however the report was filed before Commissioner (Appeals)-Addition was held to be not justified. [S. 56 (2)(viib), Rule, 11UA]