S.14A : Disallowance of expenditure – Exempt income – No disallowance can be made when the assessee had not earned any exempt income [ R.8D ]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions – Survey – Only to extent of income which was violative of section 13(1)(d) and not total denial of exemption. [ S. 11, 12A, 13(1)(d), 133A, Art , 226 ]

S. 11 : Property held for charitable purposes – Application of income – Expenses of earlier years can be adjusted against income earned in subsequent year . [ S. 11(4) ]

S. 11 : Property held for charitable purposes – Activity of running hostel – Not commercial activity – Denial of exemption is held to be not justified . [ S. 2(13), 2(15) , 11(4A) ]

S. 6(6) : Residence in India – Not-ordinarily resident -Accrual of income -Sale of stock option – Earlier employer – Matter remanded back to the Assessing Officer [ S. 5(1) (c ) ]

S. 143(3): Assessment -Bogus purchases – Estimation of profit at 10% of total alleged bogus purchases is held to be justified – No substantial question of law [ S.37 (1), 40A(3), 260A ]

S. 143(3): Assessment – Natural justice –Covid-19 – Lockdown – Returned income was loss of Rs.10, 57,049 and income assessed was 114. 57 ,33, 424 – Only three working days notice was given to file various details – Order passed without giving sufficient time is violative of the principle of natural justice – Order was set aside . [ S. 144, Art. 226 ]

S. 68 : Cash credits – Share application money –Accommodation entries – Statement of Shri Shirish C.Shah – Investor companies have responded to the notices issued u/s 133(6 and summons issued u/s 131 of the Act – Deletion of addition is held to be justified [ S. 131, 132 (4), 133(6) ]

S. 32 : Depreciation – iPad is a communicating device and not a computer, hence, ineligible for higher rate of depreciation of 60 per cent.