S. 10(1) : Agricultural income-Growing high yielding hybrid seeds — Agricultural activity-Entitle for exemption.

S. 9(1)(vii):Income deemed to accrue or arise in India-Fees for technical services–Management service fees from its Indian subsidiaries-Not taxable as fees for technical services and not as dividend-Reimbursement of expenses-DTAA-India-Swedish [S. 9(1)(iv), Art. 10, 12]

S. 9(1)(vi) : Income deemed to accrue or arise in India–Royalty-Computer software-Payment made to its foreign based AE for purchase of copyrighted software would not be termed as payment of royalty-Information technology support services-Lease line charges-Not liable to deduct tax at source–DTAA-India-USA. [S.195, Art. 12]

S. 4: Charge of income-tax-Capital or revenue-Subsidy received from Government is a capital receipt not chargeable to tax-Rule of consistency to be followed.

S. 4 : Charge of income-tax – Subsidy – Refund of octori-Capital receipt – Not chargeable to tax. [S. 2(24)(xviii) 43(1), 56]

S. 2(24)(xi) : Income-Business income-Key man insurance policy-Accrual or receipt basis-Bonus on Keyman Insurance Policy taxable on receipt basiS. [S. 5, 28(vi), 10(10DD), 145]

S. 2(22)(e) : Deemed dividend-Advance given to society-Advance not to be treated as deemed dividend.