S.28(i): Business income-Income from house property-Income from renting out house properties to tourists and pilgrims on a day-to-day basis-Assessable as business income-Depreciation is allowable. [S. 22, 24(a), 32(1(ii)]

S.14A: Disallowance of expenditure-Exempt income-Interest expenditure-Disallowance has to be computed at 0.5 per cent of investments which have actually yielded exempt income during the year and not the average of investments as appearing in the balance sheet of the assessee.[R.8D(2)(iii)]

S.14A: Disallowance of expenditure-Exempt income-Shipping business-Tonnage tax scheme-Disallowance under S. 14A cannot be made in the case of the assessee, which is subject to tax under Chapter XII-G.[S.115VA]

S. 12AB: Procedure for fresh registration-Wrong mentioning of religious-cum-charitable in the Form No.10AB-Rejection of application was set aside-CIT(E) is also directed to examine the grant of approval under s. 80G after deciding the application for grant of registration under s. 12AB. [S.80G]

S. 12AB: Procedure for fresh registration-Trust for the benefit of residents of a particular housing society-Denial of registration was affirmed. [S.11, 12, 12AB(4), 13(1(b)]

S. 11: Property held for charitable purposes-contribution of Rs. 50,000 to the trustees of ABET for creating that trust-Not specified person-Lease rent paid by the assessee for a building which was provided free of charge to ABET to enable it to start a school-No disallowance can be made.-Income from house property-Deduction is not allowable-Method of accounting-Cash system-Interest income-Addition on account of interest accrued and not received was deleted. [S. 13(2)(a), 13(2(b), 13(2)(g), 24(a), 145]

S. 11 : Property held for charitable purposes-Principle of mutuality-Participation in the annual meet for which the sponsorship fees are received is free of cost-It cannot be held to be a service for a fee for rendering service-Proviso to section 2(15) is not applicable-AO is not correct in denying the benefit of exemption. [S. 2(15)]

S. 9(1)(i): Income deemed to accrue or arise in India-Business connection-Shipping business-Place of effective management-Permanent Establishment-FCIPL is functionally independent of the assessee-FCIPL was doing business for other enterprises also and more than 77.60 per cent of its revenue or the income was from other independent parties and only 22.32 per cent revenue was derived from assessee-FCIPL was an independent agent and not carrying out any work wholly and almost wholly for the assessee-company-Assessee has no agency PE in India-Income from operation of ships is not taxable in India-DTAA-India-Mauritius [S.90, Art. 5, 7,8]

S. 4 : Charge of income-tax-Capital or revenue receipt-Compensation received from supplier on account of failure of performance guarantee parameters of wind turbine generator-Capital receipt.

S. 148: Reassessment – Limitation – Notice issued under section 148 after expiry of six years under the erstwhile law is barred by limitation notwithstanding that notice under section 148A(b) was issued within the limitation period – Reassessment quashed. [S. 147, 148A(b) 149]