S. 36(1)(va): Any sum received from employees-COVID-19-Delay in depositing the amount-EPF Organisation had waived levy of penal damages for delayed payment during lockdown-Disallowance is deleted. [S.43B]

S. 28(va) : Business income-Cash or kind-Under an agreement-Non-compete fee-Joint venture company-Negative covenant-Loss of source of income-Capital receipt-Finance Act, 2002, with effect from 1-4-2003 applicable only after the assessment year 2003-04. [S. 4]

S. 28(i) : Business loss-Embezzlement of stock by an employee-FIR is filed-Loss is allowable as business loss. [S. 37(1), 145]

S. 28(i) : Business income-Capital gains-Own capital-Share dealings-Assessable as business income.[S. 45]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Purchase of luxury vehicle-Registered in name of manging trustee-Not able to establish that vehicle was utilized for purpose of charitable activities-Exemption under sections 11 and 12 is denied on value of vehicle purchased [S. 11, 12, 13(1)(c)]

S. 12AB: Procedure for fresh registration-Particular religious community or caste-Trust is in existence since 1946 i.e., prior to Income-tax Act came into force-Provisions of section 13(1)(b) is not be applicable.[S.11, 13(1)(b) Rule,17A]

S. 12AA : Procedure for registration-Trust or institution-Cancellation of registration-Provisions of section 12AA/12AB do not provide for cancellation of registration with retrospective effect. [S.12AB]

S. 12A : Registration-Trust or institution-Failure to comply with show cause notice-Cancellation of provisional registration-Matter remanded to Commissioner (E).[S.12AB]

S. 12A : Registration-Trust or institution-Technical mistake in preparing application-Typographical error corrected-Remanded back to file of Commissioner (E) for fresh adjudication by considering amended application. [S. 12A(1)(ac)(ii), 12(ac)(iii), Form No10AB.]

S. 12A : Registration-Trust or institution-Denial of exemption-Trust or institution-Investment restrictions-Provisions of section 13 can be invoked only at time of assessment and not at time of grant of registration under section 12A-. Matter is restored to file of CIT (E), for de-novo consideration. [S.13(1)(b)]