S.14A : Disallowance of expenditure-Exempt income-Interest free funds is more than investments made-No disallowance of interest can be made-Administrative expenses-Disallowance is restricted only to investments giving rise to exempt income. [R. 8D]

S. 11 : Property held for charitable purposes-Exemption denied and income assessed as income from other sources-All incidental expenditures laid out by assessee wholly or exclusively for purpose of making or earning such income were also to be allowed under section 57(iii). [S. 10(23C)(iiiab), 12A, 12AA, 57(iii)]

S. 10B : Export oriented undertakings-Matter remanded by the Tribunal to the Assessing Officer examine the claim under section 10A of the Act-CIT (A) allowed the claim under section 10B-CIT (A) was not justified is allowing the deduction u/s. 10A of the Act. [S.10A, 254 (1)]

S. 10 (23C): Educational institution-Demerger-Financial help to hospital-No violation of provision-Withdrawal of exemption is not justified. [S. 10(23)(vi)]

S. 10 (23C) : Educational institution-Solely for educational purpose and not for earning profits-Substantially financed by Government-Eligible for exemption under section 10(23C)(iiiab) of the Act-Explanation to clause 10(23C)(iiiab) w.e.f. 1-4-2015 setting out minimum threshold of 50 per cent for institution to be financed by Government for claiming benefit of exemption under section 10(23C)(iiiab) is prospective in nature. [S. 10 (23C)(iiiab)]

S. 10(10C) : Public sector companies-Voluntary retirement scheme-Bank employee-Exit Option Scheme-Ex gratia amount-Tax deducted at source-Not entitle to exemption. [R. 2BA]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Sale of software to Indian distributors-Not in the nature of copy right-Not taxable as royalty-DTAA-India-Sweden. [Art. 12]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Payment made by assessee for market analysis, maintenance of online data, customer database, etc.-Matter remanded for reconsideration-DTAA-India-USA. [Art. 12]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Business of acquiring advertisement time (‘Airtime’)-Attribution of 30 percent of gross revenue from India is held to be not justified-DTAA-India-Mauritius. [Art. 5, 7]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Share premium- Accepting the value of shares issued at premium could not be considered as erroneous or prejudicial to interest of revenue – Revision is held to be bad in law [ S.56(viib) , Rule 11U , 11UA ]