S. 32 : Depreciation-Goodwill-Amalgamation of companies-Depreciation on goodwill acquired to be allowed. [S. 32(1)(ii), 43(1), 43(6)]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income [R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Exempt income not received during year-No disallowance can be made. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Only those investments, which have yielded exempt income has to be considered for the purpose of computing average value of investments for computing the disallowance. [R.8D]

S. 12AA : Procedure for registration-Trust or institution-Interest income earned on investment of surplus funds-Assessable as income from other sources and not as business income-Depreciation not allowable. [S. 32, 56]

S. 12AA : Procedure for registration-Trust or institution-Advancement of any other object of general public utility-It is not necessary that object of general public utility should be beneficial to whole mankind-Object beneficial to a section of public is also an object of general public utility-Merely leasing of developed plots to its members on basis of their respective contributions does not make assessee ineligible for registration as a charitable entity per se. [S. 2(15), 11]

S. 12A : Registration-Trust or institution-Assessment order denying the exemption-Commissioner (Exemption) granted exemption from inspection-Rectification application was denied-Entitle to exemption-Directed to rectify the order. [S. 11, 12, 13, 154]

S. 11 : Property held for charitable purposes-Income from letting out of building and cultural hall, etc-Medical relief to poor patients, education to deserving students and relief to the needy sections of the society-Denial of exemption is not justified. [S. 2(15), 12AA]

S. 11 : Property held for charitable purposes-Filing of audit report in Form 10B is procedural requirement can be fulfilled even at a later stage by showing a sufficient cause-Entitled to exemption. [S. 154]

S. 11 : Property held for charitable purposes-Accumulation of income-Amount spent on the objects of the Trust-Excess of expenditure-Carry forward to subsequent years. [S. 11(1)(a)]