S. 14A : Disallowance of expenditure – Exempt -No exempt income — Disallowance is not justified. [ R.8D ]

S. 10B: Export oriented undertakings – Entire sale proceeds must be received in convertible foreign exchange within stipulated time or should have opened bank account as per the provision of the Act – Part of sale proceeds adjusted against import of raw material — Not entitled to deduction in respect of such part [ S.10B(3)]

S. 10A : Free trade zone – Shifting of undertaking to another place with approval of authorities — Not a case of splitting up or reconstruction of business —Entitled to exemption.[ S.10B(2)(ii) ]

S.10(22): Educational institution- Derived from – Deemed income assessed as cash credits whether entitle to exemption – Appeal dismissed due to low tax effect – Question left open [ S. 2( 24), 68 ]

S.10(22): Educational institution- Derived from – Deemed income assessed as cash credits whether entitle to exemption – Appeal dismissed due to low tax effect – Question left open [ S. 2( 24), 68 ]

S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services -Non-Resident -Employees not found to stay in India for more than six months — Income not liable to tax in India — Apportionment of expenses – DTAA- India – Japan [ Art , 5, 7, 12 ]

S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services – Company providing advisory and consultancy services infield of real estate -Not having permanent establishment in India — Receipts not taxable as business income- DTAA- India- United Kingdom [ Art. 7, 13 ]

S. 9(1)(i): Income deemed to accrue or arise in India – Business connection -British Virgin Islands by company registered in Jersey — Value of shares transferred in India less than 50 Per Cent. — Income from transfer of shares not subject to tax in India -Foreign company- Minimum alternate tax – Companies not required Registration in India – Not liable to minimum alternative tax. [ S. 115JB ]

S. 254(1) : Appellate Tribunal- Powers-Conditional remand without reasons – Held to be not proper – Power of Assessing Officer cannot be curtailed [ S. 14A, 143 (3) ]

S. 281B : Provisional attachment -Debatable issue – Quantum of tax being high cannot be ground for attachment — Order unsustainable [ S.28 (ii)(a),28(iv), 246A, Art , 226 ]