S. 11: Property held for charitable purposes-Filing of auditor’s report-Directory and not mandatory-Audit report in Form No. 10B was not uploaded within the due date of filing return under section 139(1)-Filed before processing of return-Exemption allowed.[S.12A, 143(1) Form No 10B]

S. 11: Property held for charitable purposes-Failure to file an audit report in Form No 10B along with the return-Report was filed in the course of assessment proceedings-Exemption could not be denied solely on the ground of belated filing of audit report-Delay was condoned, and the Assessing Officer was directed to grant the exemption. [S. 12, 12A, Form No.10B]

S. 11: Property held for charitable purposes-Belated filing of Form No.10B-Filed in appeal proceedings-Directory and not mandatory-Directed to allow the exemption. [S. 12, 12A, Form No.10B]

S. 11: Property held for charitable purposes-The requirement of filing an audit report in Form 10B before the due date as per rule 12A(1)(b) is directory in nature and not mandatory-Directed to allow exemption. [S. 12, 12A(1)(b), Form No 10B]

S. 11: Property held for charitable purposes-Application of funds-Gross receipts-Revenue and capital expenditure-Income was to be assessed as nil. [S.12A, 143(1)]

S. 10 (23C): Educational institution-Cash deposits in bank-Denial of exemption-Entire deposits cannot be added-Income has to be computed on a commercial basis after allowing the expenditure-Matter remanded to the file of the Assessing Officer. [S. 10(23C)(iiiab) 148]

S. 10 (23C): Educational institution-University was established by State Legislature Act-Substantially financed by Government to the extent of 31.76 per cent-Eligible for exemption under section 10(23C)(iiiab) [S. 10(23C)(iiab)]

S. 9(1)(vi): Income deemed to accrue or arise in India-Royalty-Screening and investigation services to its customers in India-Not royalty-Addition was deleted-India-UK. [Art. 5, 13]

S. 9(1)(v): Income deemed to accrue or arise in India-Interest-advanced External Commercial Borrowing (ECB)-Assessee could claim set-off of current year business loss of PE against interest income earned from Indian customers on ECB loans-Treaty itself provided for taxability of income in terms with domestic law provisions-Interest income would be covered under section 115A(1)(a)(iiaa), hence, subject to concessional rate of tax at 5 per cent with applicable cess and surcharge-DTAA-India-UAE [S. 9(1)(i),115A, Art. 11]

S. 9(1)(i): Income deemed to accrue or arise in India-Business connection-Service fee-Service agreement of infrastructure services, Web EDI system maintenance agreement, etc.-DRP should revisit the issue upon examining documents which were not placed before it-Matter remanded-DTAA-India-Thailand.[Art. 7, 22]