S. 28(i) : Business loss – Marked-to-market Loss-On open equity tock future contracts-Forward contracts-Suffered on stock-In-Trade – Speculative transaction-Ascertained loss – Allowable as deduction-SLP of revenue is dismissed. – Supreme Court – Special Leave Petition Dismissed. [S. 37(1), 43 (5), 73]

S. 22 : Income from house property-Principle of mutuality-Matter remanded to the Tribunal for fresh decision. [S. 254(1), 260A]

S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned-Question of law admitted.[R.8D, 260A]

S. 14A : Disallowance of expenditure-Exempt income-Failure to record dissatisfaction-Not earned any exempt income-Order of Tribunal deleting the disallowance is affirmed. [S. 115JB, 260A, R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Strategic investments-Subsidarry companies, associate concerns and partnership firms-Restricted 5% of aggregate of expenditure-Order of Tribunal was quashed and set aside-a Assessing Officer was directed to pass an order in accordance with law and formula laid down in Maxopp Investment Ltd. v. CIT [2018] 254 Taxman325 / 402 ITR 640 (SC). [R. 8D, 260A]

S. 11 : Property held for charitable purposes-Capitation Fee-No action was initiated against by State for any violation of the Act-Certificate was issued under section. 12A of the Act-Denial exemption is held to be not justified.[S. 12, 12A, Karnataka Educational Institution (Prohibition of capitation fee) Act, 1984]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Computer software-Maintenance and support services-Not payment of royalty for use of copyright in computer software-Not taxable in India-DTAA-India-Singapore. [S. 9(1)(i), 195, Art. 12]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Diamond testing services for certification of diamond from USA-Services could not be treated as Fees for technical services-Mere rendering of services cannot be held to be fees for technical services, unless the person utilising the services is able to make use of the technical knowledge etc DTAA-India-USA. [S. 195, 201(1), 201(IA), Art. 12]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Commission-Rendering support in business operations in printed and on-line sale of books and journals – Receipts are not fees for technical services-Subscription Received from third-party customers in India for sale of E-Journals, Online Journals and books under Commissionaire agreement – No copy right granted-Not assessable as royalty-DTAA-India-Germany. [S.9(1)(vi), Art. 12]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Telecom services-There was no human intervention in rendering said service-Payments could not be characterised as fees for technical services-DTAA-India-UK. [S. 9(1)(vi), Art. 13]