S. 12AA : Procedure for registration-Trust or institution-School-Entire expenditure incurred by assessee was for purposes of school-Denial of registration is held to be not justified. [S.2 (15), 11]

S. 11 : Property held for charitable purposes-Trade association-Object of promoting awareness and information dissemination with respect to automobile industry-Fees for conducting seminars-Entitle to exemption. [S. 2(15)]

S. 11 : Property held for charitable purposes-Providing services of relief to poor, education and medical relief would fall within scope of general public utility-Entitle to exemption. [S. 2(15), 12A, 80G]

S. 10B : Export oriented undertakings-Brought forward unabsorbed depreciation and losses-Not eligible unit-Cannot be setoff against current profit of eligible unit for computing deduction.

S. 10B : Export oriented undertakings-Entitled to claim exemption on interest income earned from inter-corporate loans and deposits lying in EEFC account.

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Fees for technical services-Court had not answered question of payment of royalty on merits-Matter should be restored to High Court-OECD Model convention, 12. [S. 9(1)(vii), 260A]

S. 4 : Charge of income-tax-Income paid to Government as per bye-laws of society-Income is taxable though the Trust is not registered. [S. 12AA]

S. 2(22)(e) : Deemed dividend-Advance received-Not able to establish for purchase of land-Assessable as deemed dividend.

S. 2(22)(e): Deemed dividend-Loans and advances to shareholders-Amount received as share application money by companies from companies in both of which assessee had beneficial interest, was not loan and advances-Addition cannot be made as deemed dividend. (S.260A)

S. 23 : Income from house property – Annual value – Annual value should be restricted to municipal ratable value – Estimate at 6% of cost of value of flat was held to be not justified . [ S. 22, 23 (1)(c) ]