S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Business of acquiring advertisement time (‘Airtime’)-Attribution of 30 percent of gross revenue from India is held to be not justified-DTAA-India-Mauritius. [Art. 5, 7]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Share premium- Accepting the value of shares issued at premium could not be considered as erroneous or prejudicial to interest of revenue – Revision is held to be bad in law [ S.56(viib) , Rule 11U , 11UA ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Order passed under section 144 overlooking provision of section 184 (5) – Order is erroneous – Revision is held to be valid [ S.144, 184 (5) ]

S. 144C : Reference to dispute resolution panel – Non-resident – Shipping business – Order under section 172(4) without passing draft assessment order – Matter remanded-DTAA -India -Singapore [ S.9(1)(1), 172 (4), Art , 24 ]

S. 54 : Capital gains – Profit on sale of property used for residence – Surrender of old flat and received new residential flat after development – Not offering the capital gain in return and claiming under wrong section would not disentitle from claiming deduction under section 54F of the Act . [ S.45, 54F ]

S. 37(1) : Business expenditure – Supervision charges to group concern- Held to be allowable as deduction .

S. 36(1)(iii) :Interest on borrowed capital – Debit balance in one of partner’s current account for last several years – Principle of consistency is followed – Disallowance of notional interest of 12 % is held to be not valid .

S. 9(1)(vii):Income deemed to accrue or arise in India – Fees for technical services -Technology collaboration and technical assistance agreement- Assessed as fees for technical services – DTAA -India – Sweden [S. 9(1) (vi) , Art , 12 ]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty – Computer software -Grant of non-exclusive non-transferable license in computer software with no right to sub-lease or transfer would fall within purview of Royalty- Chargeable to tax- Liable to deduct tax at source – DTAA -India -Italy [S. 40 (a)(i), 195 , Art . 13(3) ]

S. 61 : Revocable transfer of assets – Association of person- Revocable Trust – Beneficiaries unknown- Write back of provision – liquidating/recovering NPAs acquired from banks- Trust cannot be assessed as an Association of persons- Revocable trust provisions of section 61 to 63 is applicable – When names of beneficiaries of assessee-trust and their respective shares were known since inception and also proceeds had been distributed as per their respective shares, assessee-trust could not have been considered as an indeterminate trust- Write-back of a provision could be made taxable only if same was claimed as a deduction in earlier year when it was created. [ S. 2(31)(v), 4 , 62 , 63 , 164 (1) , SARFAESI Act ]