S. 54F : Capital gains – Investment in a residential house –Transfer includes extinguishment of rights – Agreement to sell land and purchaser given possession in August 2010 — Sale deed executed in July 2012 — Purchase of residential house in April 2010 —Entitled to exemption. [ S.2(47)iii) , 45,54F ]

S. 54B : Capital gains – Land used for agricultural purposes – No proper finding regarding character of land – Matter remanded . [ S. 45 , 254(1), Bombay Tenancy and Agricultural Lands Act , S. 43, 63 ]

S.40(a)(ia):Amounts not deductible – Deduction at source –
Amendment to S.40A(ia) by Finance Act, 2010 permitting deposit of tax deducted at source till due date for filing return is retrospective in operation. [ S 139(1),260A ]

S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank -Bad debts written off in accounts is deductible – Determination of Rural branch is to be based on revenue records .

S. 14A : Disallowance of expenditure – Exempt income – Section is not retrospective in operation – Not applicable prior to assessment year 2008 -09.

S. 14A : Disallowance of expenditure – Exempt income -Remand by the Tribunal is held to be valid- Ad hoc disallowances cannot be made – The court granted liberty to the assessee to raise the contention with regard to the jurisdiction of the Assessing Officer to invoke section 14A(2) .[ S.254(1) , R.8D ]

S. 12AA : Procedure for registration –Trust or institution-Mere resolution of governing body to benefit followers of a particular religion — Cancellation of registration is not justified . [ S. 12AA(3) , 13(1) (b) ]

S. 12A : Registration –Trust or institution- providing basic services of domain name registration charging annual subscription fees and connectivity charges —Incidental to main objects of assessee —Entitled to exemption [ S.2(15) 10(23C)(IV) , 260A ,Companies Act, 1956, S.25 ]

S. 11 : Property held for charitable purposes – Application of income- Adjustment of excess expenditure of earlier years against income of current year amounts to application of income-Entitle to exemption .[ S.2(15) 11(1) (a) ]

S. 10A : Free trade zone – Turnover – Unrealised sale proceeds cannot be included in total turnover and excluded from export turnover — Expenditure incurred in foreign currency for export of software is includible in export turnover .