S.14A : Disallowance of expenditure-Exempt income-Own funds are more than value of investment in firm, mutual funds and shares-No disallowance can be made-Charging net amount to profit and loss account-Lump sum disallowance of 15 lakhs was held to be proper. [R. 8D(2)(ii), 8D(2)(iii)]

S. 12AA : Procedure for registration-Trust or institution-Fund to promote welfare and recreational activities of personnel of Delhi Police-Entitle to registration. [S. 2(15)]

S. 11 : Property held for charitable purposes-Amount spent on construction of buildings for its medical college would be treated as application of income for objects of trust and, hence, would qualify for exemption under section 11-factum of incurring such expenses by way of cash alone could not be a ground to hold that those expenses were related to non-specified purpose-Denial of exemption was held to be not justified-No violation. Section. 13 of the Act. [S. 2(15), 12A, 13, 69C, 132(4)]

S. 11 : Property held for charitable purposes-Authority constituted under Urban Planning and Development Act-Local authority-Acquisition and Development of Land-Discharging statutory and sovereign function-Activities having direct nexus with obligations-Charitable activities-Entitled to exemption. [S. 2(15), 10(20A), 12A]

S. 10B : Export oriented undertakings-Production and Export of pasteurized crab meat-procurement of non-living dead crab and then process into chemical mixed pasteurized crab meat in a series of manufacturing process-Fall under the new definition of manufacture-Deduction allowable. [S. 2(29BA)]

S. 10A : Free trade zone-Export turnover-Foreign currency-Export proceeds within six months-General permission to realise export proceeds within 12 months of export-Matter remanded.

S. 10(23C) : Educational institution-Surplus re deployed regularly for educational purposes-Lese rent paid to trustees neither excessive nor un reasonable-Denial of exemption. Was not justified [S. 10(23C)(vi), 13(1)(c)]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-If an Indian agent has been paid an arm’s length remuneration, nothing further could be taxed in hands of Assessee-DTAA-India-Mauritius [Art, 5(4)]

S. 2(1A) : Agricultural income-Income derived from sale of saplings and seedling grown in a nursery alone shall deemed to be agricultural income-subsequent operation, i.e., supply of fertilizer, supply of soil, engaging horticulturists, insuring the plant, making pits and other related activities carried out in assessee’s nursery but in client’s site cannot be termed as secondary operation and hence not agricultural income. [S. 10(1)]

S. 271(1)(c) : Penalty-Concealment-Not specifying the charge-Levy of penalty is held to be not valid-Legal issue-Additional ground was admitted-Penalty provision u/s 271AAA is not applicable to search cases conducted after 1-7-2012. [S. 132, 254(1), 271AAA, 271AAB, 274]