S. 45: Capital gains-Capital asset-Agricultural land-Exemption claimed without cogent evidence-Description in revenue records as dry land suitable for construction-Assessable as capital gains-SLP dismissed. [S. 2(14)(iii), Art.136]

S. 44BB: Mineral oils-Computation-Income-Deemed to accrue or arise in India-Royalties or Fees for Technical Services-Mineral Oil Exploration Services-The matter was remanded to the AO for fresh consideration of the royalty issue and passing of a fresh order in accordance with law. DTAA-India-Norway. [S. 9(1)(vii), 44DA, 197, Art. 12, Art. 226]

S. 37(1): Business expenditure-Compensation-Year of allowability-Compensation is allowable in the year of actual payment and not in the year when liability crystallised. [S. 145]

S. 37(1): Business expenditure-Broken period interest on purchase of securities-Securities held as stock-in-trade-Interest paid for broken period was allowable as deduction-SLP delay of 959 days-SLP dismissed on account of delay as well as on merits. [Art . 136]

S.37(1): Business expenditure-Management fees-Excessive-SLP of revenue dismissed on account of delay as well as on merits.[Art. 136]

S. 32: Depreciation-Block of assets-Disallowance of depreciation on the ground that certain units had not been put to use during the year under consideration-depreciation is allowable on the entire block, as attribution to specific units is unnecessary once assets fall within a block.[S. 2(11)]

S. 11: Property held for charitable purposes-Assessee advancing objects of general public utility carried on activities resulting in incidental surplus, and quantitative limit prescribed under second proviso to section 2(15) was adhered to; such activities continued to qualify as charitable for purposes of section 11 of the Act. [S. 2(15), 260A]

S. 11: Property held for charitable purposes-Providing systematic instructions or training which involves a process of teaching and learning amounts to “providing education” for purposes of section 2(15)-Mere generation of surplus would not be a ground to deny exemption to assessee under section 11 when the surplus so generated was used solely for educational purposes-Entitled to exemption. [S. 2(15), 12AA]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Consideration received by a non-resident for enabling live telecast of cricket matches did not extend beyond live feed and involved no transfer of copyright or derivative exploitation rights-Not taxable as royalty-DTAA-India-Sri Lanka [Art. 12].

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Off-the-shelf sale or supply of software without transfer of copyright cannot be treated as royalty-Delay of 598 days-Condonation of delay refused-SLP of revenue dismissed-DTAA-India-Singapore. [Art.12(3) Art. 136]