S. 11 : Property held for charitable purposes-Accumulation of income-Application of income-Non-corpus fund shown at figure higher than investment shown-Matter remanded for fresh adjudication. [S. 2(15), 11(2),11(5), 13(1)(d)]

S. 11 : Property held for charitable purposes-Filing of audit report-Form No 10B was filed before passing of the intimation-Denial of exemption is not valid-Fee for late filing-Filed return within prescribed time-limit-Late fee is not leviable. [S.139(1),143(1),234F, Form No 10B]

S. 11 : Property held for charitable purposes-Accumulation of income-Filing of audit report in Form 10B-Before due date of filing of return-Not mandatory-Filed along with the return-Direction of CIT(A) is affirmed.[S.11(2), 139(1), Form,10B]

S. 10B: Export oriented undertakings-Manufacture or processing-Preparation and export of pickles-Change in characteristic of raw materials from vegetables to bottled pickle, with different use-New product Entitled to benefit-Entire sale proceeds must be received in convertible foreign exchange within stipulated time-Bank realisation certificates, certified statement of forex receipts and certificate of auditor establishing realisation of export proceeds-Eligible for deduction to extent of foreign exchange received during specified period-Entitle to deduction. [S.80IC]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Royalty-Non-Resident-Information technology and systems, applications and products service agreement with Indian subsidiary-Receipt is not fees for technical services and not taxable in India-DTAA-India-Portugal. [S.9(1)(vi), Art.12(4)(a), 12(4)(b), 13]

S. 9(1)(vii):Income deemed to accrue or arise in India-Fees for technical services-Salary-Expatriate employees-Tax deducted at source-Reimbursed by Indian subsidiary on cost-to-cost basis-Reimbursement is not taxable-Not fees for technical services -Not liable for tax deduction at source-DTAA-India-Japan. [S. 192, 195, Art. 12]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty Deduction at source-Non-resident-Sponsorship agreement-Payment for right to use and display event marks-Having non-exclusive right to use footage relating to events or matches which recipients owned-Not royalty-Allowed refund of excess tax-DTAA-India-Singapore. [S. 195 , Art. 7(1), 12(3)]

S. 4 : Charge of income-tax-Doctrine of mutuality-Club-Complete identity between contributors and participators of funds-Letting out Air-conditioned hall and lawns to non-members-Member was only a name lender-Usage of Air-conditioned hall and lawns facility by non-members are not covered by principle of mutuality-Income from such activity is not exempt. [S.143(3)]

S. 4 : Charge of income-tax-A Government undertaking, nodal agency for propagation of non-conventional energy sources-Grants-in-aid from Government-Unutilised grants-in-aid placed in fixed deposit with banks-Interest earned is not income as unutilised grant-in-aid was also a part of grant-in-aid-Precedent-High Court-Fact that judgment of High Court is under challenge before Supreme Court is cannot be a ground for Tribunal not to follow it. [S. 260A Art. 136]

S. 4 : Charge of income-tax-Central excise subsidy from Central Government-Subsidy granted for setting up new unit in Sikkim-Capital receipt-Not liable to tax. [S. 28(i)]