S. 14A : Disallowance of expenditure-Exempt income-Recording of satisfaction is mandatory-Disallowance cannot exceed exempt income. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Not incurred any expenditure in earning dividend income-No disallowance could be made. [R. 8D]

S. 11 : Property held for charitable purposes-Running educational institution to students and staff-Hostels for students-Incidental to providing education as per object of trust-Charitable purpose-Entitle to exemption. [S. 2(15)]

S. 10(10C) : Public sector companies-Voluntary retirement scheme-Religuished charge as Managing Director and took over as advisor-Denial of exemption was not justified-Order of Tribunal was held to be utterly perverse, non speaking and without taking note of the factual position which has been brought out by the the CIT(A). [S. 254(1), 260A]

S. 10AA : Special Economic Zones-Special Economic Zones-Newly established Units-Export turnover-Telecommunication charges attributable to delivery of computer software outside India could not be excluded from export turnover-Telecommunication expenses and insurance charges, representing payment towards standard delivery and not delivery of software, being not incurred in foreign currency were to be excluded from export turnover. [S. 800HHC, 800HHE]

S. 4 : Charge of income-tax-Retention money-Income to be booked in the year of actual receipt [S. 5, 145]

S. 4 : Charge of income-tax-Carbon credit-Capital or revenue-Receipt from sale of carbon credit was a capital receipt and hence not liable to tax. [S. 28(i)]

S. 2(22)(e) : Deemed dividend-Unsecured loan from group company-Paid back with interest in same year-Deletion of addition is valid. [S. 260A]

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 agriculrural 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. [S. 45]

S. 115JB : Book profit – Banking Companies – Prior to amendments by Finance Act , 2012 ,provision is not applicable to Banking companies . [ Banking Regulation Act, 1949 ]