S. 9(1)(i) : Income deemed to accrue or arise in India – Business connection – Transfer pricing adjustment-Income received outside India for the services rendered outside India shall not be taxable in India –actual profit attributable to India being a factual issue restored to the Assessing Officer to examine assessee’s claim. [S.92C]

S. 4 : Charge of income-tax-Capital or revenue-Interest subsidy given for the purpose of payment of loan acquired for the acquisition of capital asset is capital receipt. [S. 28(i)]

S. 220 : Collection and recovery – Stay –Pendency of appeal before CIT(A)- 20% of the disputed demand – Consideration is not received cannot be a ground for lifting the rigor of the requirement of deposit of 20% of the disputed tax pending in appeal . [ S. 220(6)]

S. 80IB(10): Housing project – Stay of judgement in CIT v. Global Reality(2015) 379 ITR 107 (MP) where it was held that issuance of completion certificate, after the cut off date by the Local Authority but, mentioning the date of completion of project before the cut -off date, does not satisfy the condition specified in clause (a) of Section 80IB (10) read with Explanation (ii) thereunder hence not entitle to exemption . [ S.80IB(10)(a) ]

S. 4 : Charge of income-tax -Deposit -Subscription receipt -The primary liability and onus is on the Dept to prove that a certain receipt is liable to be taxed-.Deposits collected by a finance company are capital receipts and not revenue receipts-.The fact that the deposits are credited to the profit and loss account is irrelevant-.The true nature of the receipts have to be seen and not the entry in the books of account .[ S.145 ]

S. 32 : Depreciation-Transit mixer mounted on vehicle eligible for higher rate of depreciation-Trucks on which said RMC was mounted for transporting it to construction site –Not eligible for higher depreciation. [S. 32(1)(iia)]

S. 11 : Property held for charitable purposes-Relief for poor does not necessarily mean giving something free of cost to poor and it also includes providing them things at a concessional rate-Social objective of providing plots and sites to economically weaker section of society at affordable and reasonable rates-Held to be charitable purpose–Entitle to exemption. [S. 2(15)]

S. 10(37) : Capital gains – Agricultural land – Interest received on enhanced compensation-Entitle to exemption. [S.45(5), Land Acquisition Act, S. 28]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Dubai based branch a foreign bank, received referral charges from its Indian Branch for referring a resident client to Indian branch for bringing out issue of convertible bonds- Not liable to tax in India as fee for technical services- Transaction with head office-Interest paid- Neither deductible nor chargeable – DTAA-India- Switzerland. [S. 9(1)(i), Art. 7, 12]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection – Income from grouting to be taxable income arising out of a Fixed Place Permanent establishment-DTAA-India–UAE. [Art. 5]