S.28(i):Business loss- Loss on account of fluctuation in rate of foreign exchange -Allowable as business loss [ S.37(1), 145 ]

S.28(i) :Business income- Intercorporate deposit-Interest on margin money-Interest earned assessable as business income and not as income from other sources.[S.56 ]

S. 14A : Disallowance of expenditure – Exempt income – Sufficient interest free fund – No disallowance can be made – Administrative expenses – No bifurcation of expenses – Disallowance at 0.5 Per Cent. is held to be a reasonable estimation.[ R.8D ]

S. 14A : Disallowance of expenditure – Exempt income -No exempt income in relevant previous year — No disallowance can be made .[ R 8D ]

S. 14A : Disallowance of expenditure – Exempt income – No exempt income received during year — Disallowance cannot be made [ R.8D ]

S. 14A : Disallowance of expenditure – Exempt income – No income exempt from tax received in relevant previous year —Disallowance cannot be made .[ R.8D(2)(iii) ]

S. 11 : Property held for charitable purposes – Providing facilities to tourists and pilgrims coming to Kurukshetra – No commercial element in activities- Entitle to exemption [ S.2(15) 12 ]

S. 10B: Export oriented undertakings – Books of account – No requirement to maintain separate books of account- Exemption allowable at source and not after computation of gross total income

S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services -Management services to associated enterprise —Matter remanded to the Assessing Officer – Services of corporate guarantee not services of managerial, technical or consultancy services – Education cess and secondary and higher education Cess — Not applicable while taxing income on gross basis under tax treaty —
DTAA- India -France – Reimbursement of expense -Matter remanded to the Assessing Officer . [ S.92C, Art. 13(3) ]

S. 2(22)(e):Dividend – Deemed dividend-Advances given for business purpose — Not assessable as deemed dividend