S. 14A : Disallowance of expenditure-Exempt income-Interest-Expenditure not incurred-No disallowance cannot be made-Other Expenses at 0.5 Per Cent. of average value of investments – Only investments which earned exempt income to be considered for computing average value of investments. [R. 8D]

S. 12AA : Procedure for registration-Trust or institution-Colleges and hospitals-cancellation of registration-CBI report-No independent enquiry-Creditworthiness of donors and genuineness of transaction was established-Cancellation of registration was quashed. [S. 2(15), 12AA(3), 32, 133(6), Madhya Pradesh Societies Registration Act, 1973, S. 2]

S. 11 : Property held for charitable purposes-Donation to another charitable trust-Objects of donor and done are not same-Cannot be allowed as application of income-Not entitle to exemption. [S. 11(1)(a), 12A, 12AA]

S. 11 : Property held for charitable purposes-Non registration of trust does not render activities as non charitable advance to charitable object-Exemption cannot be denied-Diversion of fund-Only income which is violation of the provision can be taxed at maximum marginal rate and not whole income of the Trust. [S. 13(1)(c)]

S. 10A : Free trade zone-Computation-Gross total income-Exclusion of Telecommunication expenses from export turnover proper.

S. 44AB: Audit of accounts – Business – Profession – Remuneration received from Partnership Firm – Firm is separate legal entity – Remuneration and interest from partnership firm – Not to be included in gross receipt or turnover – Presumptive basis – No tax Audit is required ,if remuneration does not exceeds threshold limit for Tax Audit- Return cannot be treated as invalid for failure to get Tax Audit report .[ S. 2(13), 2(31)(iv) , 2(36), 44AD, 139(9), 264 ,271B, Art , 226 ]

S. 271AAB : Penalty-Search initiated on or after Ist day of July 2012-Undisclosed income-Possession of undisclosed jewellery not undisclosed income-Penalty not leviable. [S. 132]

S. 271(1)(c) : Penalty-Concealment-Not specifying the limb of section-Penalty proceedings is not sustainable. [S. 274]

S. 271(1)(c) : Penalty-Concealment-Arm’s length price-Adjustment of transfer pricing-Disallowance of expenditure-Penalty not leviable.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Substantial expansion-Initial assessment year-Order not erroneous-Revision was held to be not valid. [S. 80IC]