S. 14A : Disallowance of expenditure-Exempt income-No disallowance can be made when no exempt was earned during year. [R. 8D]

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

S. 12AA : Procedure for registration-Trust or institution-Surplus fund invested in fixed deposit-Registration cannot be denied on the ground that some of the objects were religious. [S. 2(15), 11]

S. 12AA : Procedure for registration-Trust or institution-Registration was directed to be granted from assessment year following financial year in which application seeking registration was made. [S. 11, 12]

S. 11 : Property held for charitable purposes-Accumulation of income-Not specifying the specific purpose-Exemption cannot be denied. [S. 11(2), Form No. 10]

S. 10B : Export oriented undertakings-Interest income on FDR and miscellaneous income-Matter remanded.

S. 10(23C) : Educational institution-Approval from the prescribed authority was not obtained-Denial of exemption is held to be justified. [S. 10(23C)(v)]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Vessel-Charter hire arrangement-Charges received from such time charter of vessel would not be brought to tax in its hands as royalty-DTAA-India-Singapore. [S. 44BB, Art. 12 (4)]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Commission to Indian agent-Arm’s length remuneration-Income cannot be taxed in India-DTAA-India-UK. [S. 92C, Art. 5(4), 5(5), 7]