Here is Portfolio page of Ak, with all his work

Comparable Co. selected by AO for TP adjustm't rejected becoz. of diff. activity
Dec. 08, 2015
Assessee provided investment, advisory & other ancillary support services to its AEs. To determine ALP of internat'nl transact'ns, it had identified four Co's. as comparables to it. But, TPO had selected a new company & proposed TP addition.In final order, AO made TP additio'ns. DRP confirmed it. On appeal ITAT held, activities of ICSL are akin to job of merchant banker. Therefore, ICSL has to be excluded for TPA for year under consideration.-000325
Lease rent paid till commencement of production held as revenue expenditure.
Nov. 03, 2015
Assessee filed income return declaring total income at 'Nil. Notices u/s 143(2) & 142(1) were issued to him. AO made additions to income of assessee. On appeal CIT(A) partly allowed appeal. On appeal ITAT held, lease rent paid under arrangement for imported machinery & equipments for establishing manufacturing Plant by assessee, for period new plant had not commenced production, was revenue expenditure. On appeal HC upheld ITAT decision.-000285
Commissioner is to perform quasi-judicial functions to decide allegations, HC.
Nov. 02, 2015
AO passed assessment order u/s 158BC on undisclosed income. Assessee filed application before Settlement Commission. It passed order accepting amount offered by assessee as undisclosed income. Show cause notice issued by commissioner. On writ HC held, it was Commissioner who was ultimately to perform quasi-judicial functions as per provisio. to decide about correctness or otherwise of allegations made by him. Show cause notice rightly issued.-010548
Validity of Rule2(xii) & (xvii) of Service Tax Rules upheld by SC.
Apr. 08, 2016
Petitioners utilized services of goods transport operators & of clearing & forwarding agents. They sought to impugn validity of Rule2(xii) & (xvii) of Service Tax Rules, as amended in 1997. SC held, The tax is on value of the services and it is only the person who is providing the service can be regarded as an assessee.The rules, cannot be so framed which do not carry out the purpose of the chapter and cannot foe in conflict with the sa…
Additions made by AO on ground of unexplained investment upheld by HC.
Dec. 11, 2015
Assessee purchased plot for consideration of Rs. 3.70 lakhs. After survey u/s 133A, filed a revised return, declaring sale considerat'n at Rs. 38 lakhs. AO opined that there was unexplained investment of Rs. 34.30 lakhs on part of assessee & made addit'n in light of facts. CIT(A) & ITAT upheld it on appeal. On appeal HC held, assessee was unable to refer to any contradict'n in statements of his vendors or any evidence to rebut material on r…
RBI empowered u/s 35A to issue guidelines for asset classification as NPA.
Nov. 04, 2015
Petition filed to declare Guidelines issued by RBI unconstitutional by which Petitioner's Firm account had been classified as NPA. HC held, u/s 35A of Banking Regulation Act, RBI is empowered to issue directions from time to time. Even if source of power is not mentioned in document that by itself will not render document bereft of legal force. There is no doubt that power exists, with RBI to issue, such like, guidelines for asset classification.
SEZ covered by Sec. 115JB(6) irrespective of claiming deduction u/s 10A I.T.Act.
Dec. 10, 2015
Assessee mfd. gold jewellery. It claimed deduct'n u/s 10A of I.T. Act against income generated out of unit located in SEEPZ. AO, held said deduct'n should be granted against total income available after setting off of brought forward losses & dep & determined book profit u/s 115JB of I.T.Act. CIT(A) upheld it. On appeal ITAT held, unit in SEZ will be covered by Sec. 115JB(6) irrespective of fact that those units were claiming deduction u/s …
For taxing Govt. subsidy from public funds to note if same is capital or revenue
Nov. 02, 2015
AO held ,subsidies from State Govt., either already received or receivable, had to be accounted for as per mercantile system & were taxable. CIT & Tribunal upheld it. On appeal HC held, subsidy from Govt. would be taxable, if it can be used for any purpose by assessee likes including its trade & business & would then be in nature of trade receipts & taxable. To be seen , Subsidy from payment from public funds is capital or revenue for taxing it.-01…
Allowed of only 1% exp. towards brand building exp. held correct by HC.
Dec. 11, 2015
Assessee received royalty against brand lease agreem't for tobacco related products.AO held, reason for booking said advert. exp. was to inflate profit of brand lease holder Co's. Thus, he only allowed 1% exp. towards brand building exp. CIT(A) deleted disallowance made by AO. ITAT upheld it. On appeal HC held, wh. assessee was wise & prudent in incurring exp., is not within domain of examinat'n by AO, unless premitted & allowed under statu…
View presented by AO held to be possible & plausible one, HC
Dec. 30, 2015
During search, various documents & loose papers belonging to assessee were seized. Assessee was main director of pvt. Co. 'MCP' which was engaged in construct'n business. CIT(A) held order passed by AO erroneous. On appeal ITAT upheld it. On appeal, Once inquiry was made & view taken by AO is demonstrated to be possible & plausible one, then Tribunal's order can't be termed as perverse or vitiated by any error of law apparent on face of record.0004…