S. 143(3) : Assessment-Amalgamation of Banks by Gazette Notification-Assessment in the name of amalgamated or merged Entity-Assessment in the name of non-existent entities is held to be not sustainable.

S. 143(3) : Assessment-Income from undisclosed sources-Survey-Discrepancy of stock-Addition can be made only to the extent of profit element in sales considering the average sale price as ascertainable from sales recorded and not entire sale proceeds. [S. 133A]

S. 143(3) : Assessment-Bogus purchases-Grey market-Affidavit before Sales tax department-Only profit element can be estimated. [S. 133(6)]

S. 142(2A) : Inquiry before assessment-Special audit-Writ petition was pending-No stay of proceedings-Assessment completed beyond statutorily prescribed period-Barred by limitation. [S. 153A, 153B

S. 92C : Transfer pricing-Arm’s length price-Advertisement and publicity expenses-Margin earned higher than the third party transactions-Adjustment made was deleted.

S. 92C : Transfer pricing-Arm’s length price-Consultancy services-Matter remanded.

S. 92C : Transfer pricing-Arm’s length price-Functional dissimilarity-Product company having inventories and undertaking very high level research work-Excluded from list of comparable Companies. [S. 92CA]

S. 92C : Transfer pricing-Arm’s length price-Functionally different-Cannot be comparable.

S. 80P : Co-operative societies-Interest and dividend-Profits attributable to activity of providing credit facilities to its members-Matter remanded to the Assessing Officer. [S. 80P(2)(a)(i), 80P(2)(d)]

S. 80P : Co-operative societies-Members to be construed as per definition of Concerned Co-Operative Societies Act-Matter remanded-Interest from investment in Co-Operative Societies eligible for deduction-Interest from any Bank which is not-Co-Operative Society is not eligible for deduction. [S. 80P(2))(a), 80P(2)(d)]