S. 14A : Disallowance of expenditure-Exempt income-Interest has no nexus with investment in mutual funds and shares-Disallowance not attracted-Administrative expenses-Disallowance is attracted. [R. 8D, ITAT R. 34(5)]

S. 14A : Disallowance of expenditure-Exempt income-Satisfaction not recorded-Deletion of addition is held to be justified. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income. [R. 8D]

S. 4 : Charge of income-tax-Capital or revenue-Liquidated Damages for intangible assets-Liquidated damages received are capital receipts. [S. 28(iv)]

S. 272A : Penalty-Default in delivering statement of tax deducted at source-Affidavit stating it had not paid any amount or deducted any tax at source during years in question-Penalty is not leviable. [S. 200(3), 272A(2)(K), Form 26Q, 27EQ]

S. 271AAA : Penalty-Search initiated on or after 1st June, 2007-Addition deleted-Penalty does not survive.

S. 271AA : Penalty-Failure to keep and maintain books of accounts-Documents-International transaction-Transfer pricing-Information regarding international Transactions maintained properly in Transfer Pricing Report-Deletion of penalty is held to be justified. [S. 92, 92C, 92D, 92E, R. 10D, Form 3CEB]

S. 271(1)(c) : Penalty-Concealment-Bona fide and inadvertent reporting of lower Book profits in return-Levy of penalty is not valid. [S. 115JB]

S. 271(1)(c) : Penalty-Concealment-Capital gains-Transfer of book adjustment-Income resulting to loss-Inadvertent mistake-Levy of penalty is held to be not justified. [S. 45]

S. 271(1)(c) : Penalty-Concealment-Depreciation on digital set top box and control room equipment at sixty per cent-Restricted to fifteen per cent-Levy of penalty is not valid.