S. 28(i) : Business income-Carbon credits-Capital or revenue-Income earned from sale of Renewable Energy Certificates (REC)/carbon credits is a capital receipt and not business income-Return-An assessee can amend a return filed by him during assessment proceedings-Commission paid-Disallowance is not justified. [S. 4, 37(1), 69C, 139(5), 143(3)]

S. 28(i) : Business income-Unaccounted receipts-Cash receipts-Matter remanded. [S. 132]

S. 24 : Income from house property-Deductions- Administrative expenses was not as deduction-Deletion of addition is justified. [S. 24(i), 153A]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income.[R.8D]

S. 12AB : Procedure for fresh registration- Mis-match in name vis-a vis name shown in PAN, Form 10AB-Matter restored back to reconsider registration a fresh. [R. 17A, Form No 10AB]

S. 12AA : Procedure for registration-Trust or institution-Failure to furnish self attested copy of registered bye-laws-Matter remanded. [S. 2(15), R. 17A(1)]

S. 11 : Property held for charitable purposes-Audit report-Not e.filed along with return-Filed in the course of assessment proceedings-Denial of exemption is not justified. [S. 12 12A, Form No 10B]

S. 11 : Property held for charitable purposes-Filed return after time allowed under section 139(4A) but before last day of filing of belated return under section 139(5)-Return should be treated as due compliance with clause (ba) in sub-section (1) of section 12A-Entitle for exemption. [S. 12A(1) (ba), 139(1), 139(4A), 139(5)]

S. 11 : Property held for charitable purposes-Delay in filing Form 10B-Accumulation of income-Audit report is filed in the course of assessment proceedings-Exemption cannot be denied merely on account of delay in furnishing audit report-It is permissible for assessee to produce audit report at a later stage, either before Assessing Officer or appellate authority-Lack of declaration in Form No. 10 regarding specific purpose for which funds were being accumulated by assessee-trust, would not be fatal to exemption claimed under section 11(2). [S. 11(2), 12A, 44AB, Form No 10, 10B]

S. 11 : Property held for charitable purposes-Hospital along with a Pharmacy store within its premises-Maintained separate books of account-Running of pharmacy store was ancillary to dominant object of assessee to run a hospital-Denial of exemption is not valid. [S.11(4A)]