“Section 92(2)”

The issue of shares and share premium is a capital account transaction, not an income-generating event, therefore Chapter X (Transfer Pricing) provisions are not attracted to deem notional or hypothetical income from such transactions.

Payment of commission to doctors for referring patients to diagnostic centers or providing gifts, freebies, or hospitality to medical practitioners by pharmaceutical companies is against public policy and cannot be allowed as a business expenditure under Section 37(1). Demanding such benefits is unethical on the part of doctors, and paying them is equally unethical on the part of companies.

High turnover serves as a valid criterion for excluding a company from the list of comparable companies when determining the Arm's Length Price (ALP) in transfer pricing adjustments.

Interest on borrowed capital used to acquire an asset, paid year after year until the date of sale, must be capitalized and included in the cost of acquisition for computing capital gains.

High turnover is a valid ground to exclude a company from the list of comparable companies for determining the Arm's Length Price (ALP) in transfer pricing analysis, especially when conflicting judicial views exist on the matter, adopting the view favorable to the assessee.

The 'make available' clause in a copyright licence agreement may not result in royalty income being deemed to accrue or arise in India if the copyright is used outside India. This is subject to the applicability of Double Taxation Avoidance Agreements (DTAAs).

The ITAT decision in Chemplast Sanmar Ltd. v. DCIT is authority for the proposition that no interference is called for in an impugned order when no contrary decision has been placed on record.

Trade advances in the nature of commercial transactions are not considered 'advances' under section 2(22)(e) of the Income Tax Act, 1961.