S. 48: Capital gains-Mode of Computation-Amount paid for termination of agreement-No legal obligation to pay the amount-Disallowance was affirmed-Commission paid-No evidence was produced-Disallowance was affirmed.[S. 260A]

S. 45: Capital gains-Sale of undertaking as a going concern-capital receipt-If the income from a source falls within a specific head, the fact that it may indirectly be covered by another head will not make the income taxable under the latter head. [S.4, 28(ii), 260A]

S. 37(1): Business expenditure-Interest on agricultural income tax (AIT)-Not allowable as business expenditure.[S 10(1),40(a)(ii)]

S. 37(1): Business expenditure-Expenses towards charitable purposes-Order of High Court affirmed-SLP delay of 621 days-SLP of revenue was dismissed on account of delay as well as on merits. [Art. 136]

S. 28 (i) : Business income-Slump sale-Going concern-Compensation for termination of agreement-Licensing Agreement was on a principal-to-principal basis and held that consideration would not fall within Section 28(ii)(c)-Order of Tribunal affirmed.[S. 28(iic), 260A]

S. 14A: Disallowance of expenditure-Exempt income-Delay of 469 days-SLP dismissed on account of delay and also on merits. [R.8D, Art. 136]

S. 12AA : Procedure for registration-Trust or institution-Assessee society was established with the object of imparting education-earnings it received were also utilised for the purpose of advancement of education-Order of High Court affirmed-SLP of revenue dismissed.[S. 2(15), 10(23)(vi), Art. 136]

S. 9(1)(vi): Income deemed to accrue or arise in India-Royalty-Global advertising and promotional rights, including a non-exclusive right to use ICC and event marks under an agreement with GCC Singapore-Consideration attributable to right to use such marks constituted ‘royalty’ within meaning of section 9(1)(vi) read with article 12 of India-Singapore DTAA, and apportionment of one-third of total consideration as royalty (taxable at DTAA rate) and balance as advertisement expenditure was valid-Writ petition was dismissed-DTAA-India-Singapore.[S. 195, 264, Art. 12, Art. 226]

S. 9(1)(vi): Income deemed to accrue or arise in India-Royalty-Payments made to non-resident telecom operators by assessee, for providing interconnect services and transfer of capacity in foreign countries was not chargeable to tax as royalty or fees for technical services-Order of High Court affirmed-Delay of 308, 457 and 473 days-SLP of revenue dismissed on account of delay and also on merits-OECD Model Convention, Art. 12. [S.9(1)(vii), Art. 136]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Permanent establishment-Service PE-Legal advisory services-Indian clients-44 days, excluding vacation-It did not meet 90 days criteria to constitute a service PE in India during the relevant year-Article 5(6) of the India, Singapore DTAA only contemplates rendering of services by employees present within country, concept of virtual service PE does not find mention in DTAA, thus cannot be read in to DTAA-DTAA-India-Singapore. [Art. 5(6)]