S. 153A : Assessment-Search-Cannot make a fresh claim for deduction under section 80-IA(4) for first time in return of income filed in response to notice issued under section 153A, pursuant to search conducted under section 132, in unabated/completed assessment as on date of search-In case of abated assessments, like Assessing Officer who can make assessment based on incriminating materials and any other information made available to him, including information furnished in return of income, assessee can claim all deductions towards any income or expenditure including under section 80IA(4), [S.80IA(4), 132, 139(1), 143(3)]

S. 115JB : Company-Book profit–Minimum alternate tax Banks constituted as corresponding new banks in terms of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and not registered under Companies Act, 2013 or any other previous company law, would not fall under provisions of section 115JB-Tax on book profits (MAT) would not be applicable to such banks. [S. 2(26), 115JB(2), Banking Regulation Act, 1949,S. 29, 51, Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 S.3(1), 11,Companies Act, 2013, S. 129]

S. 80P : Co-operative societies-Net surplus out all maintenance expenses-Interest income-Bank fixed deposits-Eligible deduction-Assessee had rightly set off interest income against maintenance expenses and addition made on this account was liable to be deleted..[S. 56, 57, 80P(2)(c) (ii)]

S. 80IE : Undertakings-North-Eastern states-Manufacturing pharmaceutical products and products developed in research and development centres-Allocation of expenditure-Unrelated to products manufactured in Sikkim unit-Allocation of research and development expenditure to Sikkim unit is wrong.[S. 35]

S. 80G : Donation-Time limit for applying for regular registration-Provisional application up to Assessment year 2024-25-Application in Form 10AB within six months before expiry of provisional approval-Application is within prescribed time limit-Matter is remanded to the file of CIT(E). [S.80G(5)]

S. 80G : Donation-Granted provisional registration-Prior to expiry of due date application was filed-Rejection order is set aside and matter is remanded with a direction to treat assessee’s application dt. 22/08/2023 as filed within time limit.[S.80G(5)(iv)]

S. 80G : Donation-Approval-Rejection of application by Commissioner (E) is not valid on plea that assessee was required to file application on or before 30-9-2022-Matter restored to file of Commissioner (E) for de novo consideration.[S.80G(5), Form No.10B]

S. 80G : Donation-Time limit for filing application for final registration-Application moved had been moved well within prescribed time period i.e., before expiry of six months of provisional registration-Not barred by limitation. [S.80G(5)(iii), Form No.10AB]

S. 80G : Donation-Application was filed on or before 30-9-2023-Further stood extended to 30-6-2024 vide Circular No. 7 of 2024, dated 25-4-2024-Rejection of application by CIT(E) is not proper on the ground that the assessee was required to file application on or before 30-9-2022-Matter remanded to the CIT(E) for de novo consideration. [S.80G(5)]

S. 70 : Set off of loss-One source against income from another source-Same head of income-Capital loss-Transfer of listed securities to his partnership firm-Long term capital loss-Colorable device-Loss is not allowed to be set off. [S. 10(38), 45]