S. 11 : Property held for charitable purposes-Corpus donation-amount utilised for acquiring fixed assets-Allowable as deduction. [S. 11(1)(a), 11(1)(d), 11(6)]

S. 10A : Free trade zone-New unit-The execution of work in a new unit when the agreement of any of its client pre-dates the operational date of the new unit, forms no basis for rejection of the deduction u/s 10A of the Act-Matter remanded-If the forward contracts entered into by the assessee are fully backed by the export then the gain or loss on such forward contracts, would be regarded as business income and the same is deductible under the section, for an eligible unit. [S. 43(5)]

S. 10(10D) : Life insurance policy-Keyman insurance policy-Single premium paid-Neither claimed deduction of premium paid nor under section 10(10D)-Offering the receipt to tax after deducting the premium paid-Held to be proper Entire sum received as maturity benefit cannot be taxed. [S. 80C, 194DA]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty Amounts paid as consideration for resale/use of computer software through EULAs/distribution agreements-Not payment of royalty for use of copyright-Does not give rise to any income taxable in India-Not liable to deduct any TDS under section 195 of the Act. [S. 195]

S. 4 : Charge of income-tax-Mutuality-Club-Guests fees from members, hire charges, income from rooms and housie participation fees-Not chargeable as income.

S. 4 : Charge of income-tax-Accrual of income-Retention money Retained by Electricity Board subject to fulfilment of no-defect or liability-Cannot be treated as income-Sum taxable only in year of receipt or accrual. [S. 5, 145]

S. 11 : Property held for charitable purposes – Education – Study and promote the latest development in the filed of Architecture – Mere surplus arising as a result of charitable activities the Institution does not cease to be a charitable institution – Entitle to exemption. [ S. 2(15), 12A, Architect Act , 1872 ]

S.69A: Unexplained money – Demonetization – AIR information -Amount deposited to bank from earlier withdrawals – Addition was deleted – Cash Deposits in Partnership Firm’s bank Account – Amount transferred to partner’s account as withdrawal from capital –Addition cannot be made in the hands of partner . [ S. 2(31)iv),133(6)]

S. 123(e) : Municipal Property Tax-Exemption-Hospital-Hospital run by Society-Objects of society was not purely charitable-Exemption from Income-tax Act, 1961 was not granted-Hospital not exempt from Municipal Property Tax. [IT Act, 1961, S. 11, 12,12A, Companies Act, 2013, S. 135].

S. 2(1)(a)(i) : Appellant-Protective assessment-Amounts paid under protective assessment must be returned to assessee-Same income cannot be assessed in hands of assessee more than once-The Act is not intended either to collect or retain any amount which is not due from an assessee. Under section 237 under Chapter XIX of the Income-tax Act, 1961, there is no limitation prescribed for granting refund of the amount paid in excess as tax. [IT Act, S. 143(3), 154, 237, 244A, Art. 226]