S. 9(1)(v) : Income deemed to accrue or arise in India-Interest-Other income-Guarantee to various banks to extend credit facilities to its Indian subsidiaries-Guarantee charges were not received by assessee in respect of any debt owed to it by its Indian subsidiary-Guarantee fee would not fall within expression ‘interest’ in article 12 of India UK DTAA-Accrue-Arise-Income-DTAA-India-UK-Northern Ireland / [S. 2(28A), 5(2), 260A, art.7, 12(5), 23(3)]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Liaison Office-Non-Resident company-Did not finalize and transact a business deal and activities-Liaison Office could not be said to be preparatory or auxiliary in nature, LO did not constitute Permanent Establishment of assessee-MIPL was not performing additional function, in absence of material, it could not be taken as dependant agency PE to assessee, a non-resident company-Delay of 395 days-SLP of Revenue is dismissed on account of delay as well as on merits-DTAA-India-Japan [art. 5, Art. 136]

S. 4 : Charge of income-tax-Subsidy-Capital or revenue-Bengal Incentive Scheme, 2004-Linked to establishment of new units-Capital in nature.[S.28(i)]

S. 4 : Charge of income-tax-Interest-Capital or revenue-Auction sale-Interest against principal amount deposited-Auction sale is nullified by court-Interest is capital receipt and cannot be assessed as income from other sources.[S. 56(2)(viii)]

S. 4 : Charge of income-tax-Capital or revenue Sales tax exemption-Notice is issued in SLP filed by the assesseee. [U.P. Trade Tax Act, 1948, S. 4A, Art. 136]

S. 2(22)(e) : Deemed dividend-Trade advances-Commercial transactions-Cannot be assessed as deemed dividend-Order of High Court is affirmed-SLP of Revenue is dismissed. [Art. 136]

S. 69C: Unexplained expenditure -Bogus purchases -Tribunal confirmed 10% of alleged bogus purchases – On appeal High Court deleted the 10% of alleged bogus purchases confirmed by the Tribunal . [ S. 260A ]

S. 115BBC : Anonymous donations – Determination of tax in certain cases – Charitable Trust – Anonymous donations received in the Hundi cannot be taxed under Section 115BBC(1) of the Act – Order of Tribunal is affirmed – No substantial question of law . [ S. 10(23C)(v), 11, 12 ,12A , 80G (5), 115BBC(2)(b), 260A ]

S. 50 :Capital gains – Depreciable assets – Block of assets – Sale of depreciable asset – Long -term capital asset – Short term capital gains- Tax is leviable at 20% as long term under seecti0n 112 of the Act and not at 30% which is applicable to short term capital gains . [ S. 2(11),2(29AA), 2(29B), 2(42A),2(42B), 2(45),43(6), 48, 49,50(1), 50(2), 50A,54,54EC,74, 112 (1)]

S. 154 : Rectification of mistake – Demand appearing in the portal – No communication of order – Rectification order and demand was quashed and set aside – Strictures -Honourable Court also directed the Principal Chief Commissioner of Income Tax, Mumbai (PCCIT) to have an enquiry conducted by a person not below the rank of Additional Commissioner of Income Tax to ascertain how such a demand came to be uploaded in the portal pertaining to petitioner and if there has been any negligence or lapse on the part of any officer, to take such action as the PCCIT will feel necessary against the said officer. [ S. 14A, 115JB, 156, Art. 226 , RTI Act, 2005 S.19(1) ]