S. 80-O : Royalties-Foreign enterprises-Royalty or fees received from foreign entity-Mere claim of sending newspaper cuttings does not amount to proof of sharing commercial expertise-No evidence for provision of information to foreign entity-Deduction rightly rejected by Tribunal.[S. 260A]
S. 43B : Deductions on actual payment-Electricity Duty on sale of power payable to Government adjusted against sums due to assessee from Government-Entitled to deduction-Produce Certificate from Chartered Accountant to establish adjustment made within time as claimed. [Art. 136]
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-No payments for purchase of shares made in cash-Disallowance is not attracted.[S.255(4), 260A]
S. 37(1) : Business expenditure-Capital or revenue-Software Development expenses-Product abandoned on becoming obsolete due to development in technology-No enduring benefit-Allowable as revenue expenditure.[S. 260A]
S. 37(1) : Business expenditure-Capital or revenue-Software Development expenses-Product abandoned on becoming obsolete due to development in technology-No enduring benefit-Allowable as revenue expenditure-SLP of Revenue is dismissed.[Art. 136]
S. 32 : Depreciation-Carry forward and set off of unabsorbed depreciation-Amendment of Section 32(2) by Finance Act, 2001-Unabsorbed depreciation or part thereof not set off till Assessment year 2002-03-Carry forward and set off permitted without limit.[S. 32(2) 260A]
S. 32 : Depreciation-Carry forward and set off of unabsorbed depreciation-Amendment of Section 32(2) by Finance Act, 2001-Unabsorbed depreciation or part thereof not set off till Assessment year 2002-03-Carry forward and set off permitted without limit-High Court affirmed the order of the Tribunal-SLP of Revenue is dismissed [S. 32(2) Art. 136]
S. 11 : Property held for charitable purposes-Specific purposes and objects without profit motive-Investment in Joint venture and utilisation of land allotted by Government for commercial purposes and earning profits in form of rental Income and sharing of profits-Deviation and contravention of objects, purposes and mission-Not entitled to exemption-Denial of exemption cannot be restricted only to extent of sum of investment in joint venture-Assessee is not entitled to exemption. [S.11(5), 12, 12A,13(1)(d), 80G, 260A]
S. 9(1)(vi) : Income deemed to accrue or arise in India- Royalty-
Income-Tax-Transfer of Copyright and right to copyrighted article-Customer relationship management services by resident of Singapore-Fees received not royalty-Not taxable in India [DTAA-India-Singapore [Art.12(4)(b)]
S. 4 : Charge of income-tax-Capital or revenue receipt-Subsidy received from Government-Purpose test-Sales-Tax subsidy received from State Government as incentive to set up new unit or large-scale investment in fixed capital-Capital receipt. [S. 28(i), 260A]