S. 14A : Disallowance of expenditure – Exempt income –No disallowance can be made without recording of satisfaction [ R.8D ]

S. 14A : Disallowance of expenditure – Exempt income – Recording of satisfaction is mandatory after giving an opportunity of hearing -Disallowance cannot exceed exempt income .[ R.8D ]

S. 12A : Registration –Trust or institution- Maintenance of Shree Durga Mata Mandir- Registration application was made after 34 years of coming in to existence – No dissolution clause – Rejection of application is held to be not valid [ S. 12 ]

S. 11 : Property held for charitable purposes – Museum- Transfer of amount to Punjab State war heroes – Donee trust was not registered – Violation of provision- Addition is held to be justified [ S.11(2) , 11(3), 12AA ]

S. 10B : Export oriented undertakings – Deemed export -Export undertaken through third party who had exported goods to foreign country and had fetched foreign currency for India would still remain deemed export in hands of assessee- Entitle to deduction .[S.10A, Form No 56G , Rule 16E ]

S. 271(1)(c) : Penalty – Concealment – Capital or revenue – Claiming deferred revenue expenditure – Levy of penalty is held to be not justified .

S. 271(1)(c) : Penalty – Concealment -Additional ground – delay in filing cross objection- Legal ground can be raised first time before Appellate Tribunal- Not specifying the charge -Failure to strike out inappropriate words in notice — Penalty is bad inn law .[ S.274 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Order of Tribunal holding in favour of assessee available at time of revision —Revision is held to be bad in law [ S.35(2AB )

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Loss — Carry forward and set-off- Revision is held to be valid – Assessing Officer in giving effect to allow such set off for assessment

S. 254(1) : Appellate Tribunal- Powers-Even if no revised return filed, Assessee can claim exemption before appellate authorities — Claim under section 54F which was made first time before Appellate Authority ,admitted and directed the Assessing Officer to allow the claim in accordance with law [ S.54F ]