S. 11 : Property held for charitable purposes-Imparting education-Surplus in educational activities-Alleged excess remuneration to trustee employees-Revenue has no power to interfere-Exemption cannot be denied -Order of High Court affirmed. [S. 2(15), 12A, 13, Art. 136]

S. 10(38) : Long term capital gains from equities -Sale of shares- Capital gains -Income from other sources -Deletion of addition by the Tribunal is justified -Question of fact. [S. 45, 56, 260A]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty –
Non-Resident – Import of licensed software directly supplied by foreign vendor to end-user in India under exclusive licences -Not liable to deduct tax at source. [S. 195, 201(1)]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty Import of licensed software under exclusive licences -Not royalty -Not liable to deduct tax at source- Pendency of Review petition -SLP of Revenue was dismissed. [S.195, 201 (1), Art, 136]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Transferee authorised to use licensed software-No transfer of Copyright-Amount received is not royalty-DTAA-India-USA- SLP of Revenue dismissed. [S. 90(2) Art, 12, Art, 136]

S. 4 : Charge of income-tax -Entrance fees paid by Member -Capital receipt. [S. 28(i), Art, 136]

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-agricultural lands converted for non-agricultural purpose-lands did not fall within 8 kms from Municipality of Bangalore-Continued agricultural operation-Mere inclusion of land in Special Zone without any infrastructure development does not convert land into non-agricultural land-Not liable to capital gain tax -SLP of Revenue dismissed. [S. 45, Art. 136]

Precedent-Binding nature-Decisions of non-jurisdictional High Court-Only in the absence of benefit of guidance by the jurisdictional High Court on that issue. [S. 68, 153A]

S .43 : Penalty-Furnishing inaccurate particulars of income-Black money-Information received from investigation wing-Foreign bank account-Search and Seizure-Non-disclosure of account inadvertent mistake-Not a case of diversion of unaccounted Indian wealth to undisclosed foreign bank accounts-Penalty cannot be levied. [S. 2(11), 60]

S. 275 : Penalty-Bar of limitation-From the date of initiation of penalty proceedings by the competent authority-Penalty order is not barred by limitation-Penalty deleted on merits [S. 269SS, 269T, 271D, 271E, 275(1)(c)]