S. 10(38) : Long term capital gains from equities – Business income or capital gains-Two portfolios viz., investment portfolio and trading portfolio –Sale of shares from investment portfolio is entitle to exemption.[S.28(i), 45]

S.10(37) : Capital gains-Agricultural land-With in specified urban limits-Compensation received on account of compulsory acquisition of agricultural land by state Govt is exempt from tax. [S. 2(14)(iii), 45 (5),Land Acquisition Act, 1894,Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (RFCTLARR Act.)]

S. 10(23C) : Educational institution-Corpus donation-Registration is not mandatory – Matter reamanded for verification. [S.10(23C(iiiad), 12AA]

S. 10(20): Local authority-Change of law-For years prior to and subsequent to AY in question assessee treated as “local authority”-To be assessed as local authority for year in question-Not as artificial juridical person. [S. 2(31)(vii)]

S. 10(13A) : House rent allowance-Rent paid by husband to his wife-house was registered in wife’s name-Rental income was shown by wife in ITR-Deduction of house rent allowance is allowable as deduction.

S. 10(2A) : Share income of partner-The Limited Liability of Partnership,(LLP) being a distinct person from its partners can become a partner in a partnership firm and is also eligible to claim the exemption. [S. 2(23), Indian Partnership Act, 1932 ,S. 4,25,26,49, Limited Liability of Partnership ,Act, 2008,S.. 14,General Clauses Act, 1897, 3(42)]

S. 10(1) : Agricultural income —Business of manufacture and sale of sugar-Income from cultivation of sugarcane seeds treated in earlier years as agricultural income-Exempt from tax.

S. 9(1)(vii):Income deemed to accrue or arise in India-Fees for technical services-Non-resident-Subscription fees receipt from India – Online Database-Not taxable in absence of permanent establishment in India-DTAA-India-USA .[S.9(1)(i), Art. 7]

S. 9(1)(vii): Income deemed to accrue or arise in India-Fees for technical services – Reimbursement of salaries paid to employees-Employees were high level technical executives-Payments fell under technical services-Tax deducted at source not relevant-Payment taxable. [Explanation. 2]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty Granting access to database and earning subscription fee-Income not taxable in India-DTAA-India-USA. [Art. 12(3)]