S. 14A : Disallowance of expenditure-Exempt income-Interest free funds more than investment-No disallowance can be made. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Failure to prove that no expenditure was incurred-Disallowance of expenditure is held to be justified. [R. 8D]

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

S. 11 : Property held for charitable purposes-Salary paid to secretary-50% of salary was allowed as reasonable-No substantial question of law. [S.260A]

S. 10AA : Special economic zones-Export turnover-Expenditure incurred in foreign exchange is to be excluded from ‘Export Turnover’ for purpose of computing deduction.

S. 10A : Free trade zone-Split of existing business-Site development of software at client premises-New unit-Entitle to exemption.

S. 268A : Appeal-Development agreement-Monetary limit-Less than one crore-Appeal dismissed. [S. 2(47)(v), 48]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-When order u/s 263 is no more in existence order passed in accordance with the direction would be infructuous.[S.143 (3)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-No material to support the finding of Commissioner-Revision is held to be not valid. [S. 80IB(10)]

S. 254(1) : Appellate Tribunal-Duties-Condonation of delay of 92 days-Dismissed on the ground that averments made in application was not supported by an affidavit-Directed to file fresh application with in fifteen days of passing of the order-Order of Tribunal is set aside. [S. 253(5), 260A]