S.32: Depreciation-Intangible asset-Goodwill arising pursuant to amalgamation-Depreciation on goodwill is allowable-Unabsorbed-Carry forward and set off-Depreciation once allowed cannot be disregarded in subsequent years for the purposes of S. 32(2) [S. 32(2)]

S. 28(i): Business income-Income from house property-Leave and licence-Infrastructural facilities-Taxable as business income-Common area maintenance-Taxable as income from house property.[S. 22]

S. 23: Income from house property-Annual value-Property let out to partner at a low rent-Matter remanded to the file of the Assessing Officer for re-adjudication to get the comparable as per law. [S. 22]

S. 12AB: Procedure for fresh registration-Application filed under wrong provision-Old trust-Inadvertent mistake in filing the application under wrong sub-cl. (iv) of s. 12A(1)(ac), which cannot be said be intentional/ deliberate and done with mala fide intention-CIT(E) was directed to grant the exemption. [S.12A]

S. 11: Property held for charitable purposes-Belated filing of Form No. 10B-Revenue was not justified in denying the benefit of exemption-AO is directed to take on record both the audit reports filed for respective assessment years, treat them as filed in compliance with provisions of s. 12A(1)(b) and then assess the total income of the assessee after giving effect to the provisions of ss. 11 and 12.[S. 12, 12A,139(4A), Form No 10B]

S. 9(1)(vi): Income deemed to accrue or arise in India-Royalty-supply of software and related services-Not royalty-Not liable to deduct tax at source-DTAA-India-Ireland.[S.90, 195, Art. 12(3)]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Non-resident-Accrual of income-Credit amount standing in foreign bank account of non-resident assessee-Bank accounts with HSBC, Geneva-Merely having a property in India or for that matter, an address in India is too simplistic a basis to hold that deposits placed outside India can be brought to tax in India-DRP acknowledges the fact that there is no direct evidence of any business activity in India-No justifiable basis for bringing to tax the amount standing credit in the name of the non-resident assessee in the foreign bank account-Addition was deleted. [S.5(2), 147, 148]

S. 69C: Unexplained expenditure -Bogus Purchases — Addition based on estimation cannot be made without rejection of books of account. Assessee produced invoices, e-way bills, ledger accounts and bank statements, and Revenue failed to establish purchases as bogus; the entire addition was deleted. [S. 37(1),145(3) ]

S.69A: Unexplained Money — Protective addition – under section Gold bullion found during search -Not sustainable where ownership stood admitted by company and bullion was duly recorded in books of account of the company . [S. S.132(4), S.143(3)]

S. 153A: Assessment – Search – HSBC Geneva accounts- In absence of incriminating material found during search, no addition can be made in respect of completed/unabated assessments – Foreign bank account additions based merely on the Base Note received from the French Government and not on search material were unsustainable – Addition under section 69A also deleted as Revenue failed to establish assessee’s ownership of foreign bank accounts. [S. 69A, 132, 143(1), 143(2), 147, 148, 153A]