S. 10 (23C): Educational institution-Clerical omission, deduction was claimed under section 10(23C)(iiiad) instead of the correct section 10(23C)(vi)-Order of Assessing Officer rejecting the request for rectification was set aside. [S. 10(23C)(iiiad), 10(23C)(vi), 11,12, 12AA Form No.10B]

S. 10 (23C): Educational institution-Delay in filing application-No mala fide conduct or gross negligence-Delay was condoned-Matter was remanded to the file of CIT (E). [S.10(23C)(5)]

S. 9(1)(vii):Income deemed to accrue or arise in India-Fees for technical services-Income from providing centralized group services such as communication, marketing, strategy, HR, treasury, finance-Taxable in India as fees for technical services-Guarantee fee from its Indian subsidiaries for providing corporate and performance guarantees, since providing guarantees was not a regular business activity but an obligation arising from parent–subsidiary relationship, such fee was taxable in India as other income-DTAA-India-Finland.[Art. 7, 12, 21]

S. 4: Charge of income-tax-Subsidy-Industrial Promotional Subsidy from State Government-Matter remanded to the file of CIT(A) for adjudication afresh.[S. 2(24)(viii)]

S. 4: Charge of income-tax-Capital or revenue-Subsidy-Income received on sale of Market Linked Focus Product Scheme (MLFPS) scrips was a capital receipt.[S. 2(24)(xviii) 28(i)]

S. 2(22)(e): Deemed dividend-Advance salary to director-Disallowance cannot be made.

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-Failed to prove that distance from municipal limits exceeded 8 kms,-land constituted capital asset under section 2(14) and liable to capital gains tax.[S. 2(14),2(14)(iii)(b), 45]

S. 115BBE: Taxation of unexplained income – Amendment enhancing tax rate from 30% to 60% w.e.f. 01.04.2017 cannot be applied retrospectively to income of F.Y. 2016-17 – Law applicable on the first day of the assessment year governs assessment – Enhanced tax and consequential penalty provisions are prospective- Demonetisation- Cash deposited in Bank -Charge of tax- The enhanced rate of tax @60% came into force on 01.04.2017 and can apply only from that date, i.e. for financial year 2017-18 onwards. [S.4, 68, 69 to 69D, 271AAC, Taxation Laws (Second Amendment) Act, 2016, Art. 226)]

S.254(1): Appellate Tribunal – Powers – Condonation of Delay – Co-operative society – Appeal filed after 13 years – Delay caused due to bona fide belief that rectification would be carried out by the Department, change in managing committee, dependence on accountant and Covid-related disruptions – Delay condoned and matter restored for adjudication on merits.[ S. 80P(2)(d), 143(1), 249(3)]

S. 271(1)(c) : Penalty-Concealment-Failure to specify the charge-Levy of penalty was deleted. [S. 274]