S. 28(iv) : Business income – Value of any benefit or perquisites – Converted in to money or not – No benefit or perquisite is chargeable to tax under section 28(iv) for assets received from AEs on a returnable basis- Independent personal services – Training expenses paid to non-resident fell under Article 14 of the DTAA and not subject to TDS- DTAA -India -Singapore . [ Art. 14 ]

S .14A : Disallowance of expenditure – Exempt income – Investment in partnership firm – Interest paid on the overdraft facility, which was obtained for business activities, should not have been disallowed, as it was not directly related to the exempt share income from the partnership firm.[ S.10(2A), R.8D(2)(iii) ]

S. 12AB: Procedure for fresh registration – Charitable purpose – Procedure for fresh registration – Objects of general public utility – Directed to grant the registration [ S. 2(15) ]

S. 12AB: Procedure for fresh registration -Selecting wrong selection code – Delay is condoned – CIT( E) is directed to hear the assessee by allowing it to apply under Form 10A . [ S. 12A(1)(ac)(iii) Form No 10A/10B ]

S. 11 : Property held for charitable purposes – If past-year discrepancies, if resolved, do not justify denying exemption in subsequent years. [ Form 10B ]

S. 11 : Property held for charitable purposes – Failure to file Form No 9A along with the return- Filed later on – Denial of exemption is not justified . [ S.11(2)(ii), 139 , Form No 9A ]

S. 11 : Property held for charitable purposes – Kuri and finance – Amount spent for object of the Trust – Entitle to exemption .[ S.2(15 ) ]

S. 11 : Property held for charitable purposes – Charitable purpose – Provision of credit guarantee for loans to micro and small enterprises – Entitle to exemption- Provision for guarantee claim – Allowable as deduction [ S. 37(1) ]

S. 11 : Property held for charitable purposes – Late filing of return – CBDT Circular clarifies that trusts are eligible for exemption u/s.11 even if the return is filed belatedly, provided it is filed within the time permitted u/s.139 (4A) [ S. 139(4A) ]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty – US based company – Amount received by assessee from Indian customers on account of sale of software solutions – Not royalty income- DTAA -India -USA. [ Art. 12 ]