S. 119: Central Board of Direct Taxes-Circular-Charitable trust-Delay of 700 days in filing Form No. 10B-No mala fide intention-Assessee, a registered public charitable trust, could not be denied exemption merely on technical bar of limitation when substantive conditions were satisfied-Order rejecting condonation application quashed-Delay condoned and assessee permitted to upload Form No. 10B. [S. 11, 12, 119(2)(b), Art. 226, Form No. 10B]

S. 80-IB(10) : Housing projects-Amendment by Finance Act, 2006 w.e.f. 1-4-2006-Joint venture development agreement and agreement for sale entered into on 23-11-2005, when s. 80AC was not on statute-For AY 2006-07, deduction u/s 80-IB(10) cannot be denied merely because no claim was made in return filed u/s 139(1)-However, for AYs 2007-08 onwards, in view of express bar in s. 80AC, no deduction allowable where assessee had not claimed deduction in return filed within due date-Plea that s. 80AC is only procedural/directory can be examined only in collateral proceedings under Art. 226 and not in appeal u/s 260A. [S. 80AC, 139(1), 260A, Art. 226]

S. 68: Cash credits-Unsecured loan-Assessee failed to prove genuineness of loan from struck-off company by not producing erstwhile directors or cogent evidence-Addition sustained-Plea that S. 41(1) applies rejected, as no genuine liability ever came into existence. [S. 41(1)]

S. 68: Cash credits-Unsecured loan-Assessee failed to prove genuineness of loan from struck-off company by not producing erstwhile directors or cogent evidence-Addition sustained-Plea that S. 41(1) applies rejected, as no genuine liability ever came into existence-SLP dismissed. [S. 41(1), Art. 136]

S. 43B : Deductions on actual payment-Employees’ contribution to PF / ESI-Due date fell on national holiday-Payment made on next working day-Disallowance deleted-Deduction allowable. [S. 2(24)(x), 36(1)(va), 43B, 143(1)(a)]

S.37(1): Business expenditure-Interest on borrowed funds-Set-off of interest receipts against interest paid-Commencement of business-Interest income for all assessment years to be assessed under head “Business”-Order of Tribunal set aside and order of Commissioner (Appeals) restored. [S.28(1), 56, 57(iii)

S. 13 : Denial of exemption—Trust or institution—Investment restrictions—Salary paid to chairperson—Considered reasonable considering qualifications and services rendered—No violation of section 13(1)(c)—Trust entitled to exemption. [Ss. 11, 12, 12A, 13(1)(c), 13(2)(c), 40A(2)]

S. 11 : Property held for charitable purposes-Rule of consistency-No change in facts-Exemption under section 10(23C)(iv) / sections 11 and 12 allowed in earlier years-Additional claim before CIT(A) maintainable-No violation of section 13(2)(b) / 13(3) in respect of residential accommodation given to trustees as employees-Tribunal order affirmed. [S. 2(15), 10(23C)(iv), 12, 13(2)(b), 13(3), 246A, 251(1)(a), 260A]

S. 9(1)(vii): Income deemed to accrue or arise in India-Fees for technical services-E-invoicing services-Licence only to use platform/software and not transfer of technology or IPR-Training for use of software did not “make available” technical know-how-Under India-UK DTAA, treaty definition prevails over Act-Receipts not taxable as FTS. [S.144C(13), 147, 148, 260A, Art. 13(4)(c)]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-“Make available” condition not satisfied-Services relating to customs brokerage support, destination services and training for developing global work culture did not involve transfer of specialised knowledge or skill-No income accrued or arose in India from business connection-Payment not taxable as fees for technical services under Act or Article 12 of India-USA DTAA. [S. 9(1)(i), Art. 12(5)]