S. 28(ii)(c) : Business income-Termination of agency-Neither capital structure of assessee had been affected nor it had affected trading structure of business-Compensation received by the assessee from German company was business income under section 28(ii)(c) read with section 28(va)(a) and not capital gains. [S. 28(va), 45, 55]

S. 28(i) : Business income-Survey-Unaccounted receipts-Disclosed in the revised return-Assessable as business income and not as cash credits applying the provision of S. 115BBE of the Act.[S. 68, 115BBE, 139(5)]

S. 28(i) : Business income-Capital gains-Purchase of land-Co-owners-Partnership firm with-Co-owners-Development agreement with firm-Intention was doing real estate business-Profit is to be assessed as business income and not as capital gains-Denial of exemption under section 54F is justified. [S. 45, 54F]

S. 24 : Income from house property-Deductions-Rental income-Let out portion of its house property-Assessable as income from house property and not as income from other sources-Entitle t statutory deduction @30% under section 24(a) of the Act. [S. 22, 24(a), 56]

S. 22 : Income from house property-Form No 26AS-Revised by the deductor-Matter is remanded to verify factual claim.[Form No 26AS]

S. 14A : Disallowance of expenditure-Exempt income-Tax free dividend income-Disallowance could not exceed exempt income.[R.8D]

S.14A : Disallowance of expenditure-Exempt income-Recording of satisfaction-Non recording of satisfaction-Addition is deleted. [R.8D]

S.14A : Disallowance of expenditure-Exempt income-Not earned any exempt income, no disallowance can be made-Employee’s contributions (PF/ESI)-Payment was made within the period of grace period of five days-No disallowance can be made-Matter remanded. [S. 36(1)(va), R.8D]

S. 12AB : Procedure for fresh registration-Charitable or religious trust-Objects of assessee-trust were primarily charitable rather than favouring any specific religious community, CIT(E) was not justified in denying registration under section 12A, by invoking section 13(1)(b) as said provisions would be attracted only at time of assessment and not at time of grant of registration.[S. 11, 12A, 13(1)(b)]

S. 12AB: Procedure for fresh registration-Registered under section 12AA-Filed application in Form No. 10A well within due date for fresh registration under section 12AB-Entitled for grant of registration from assessment year 2021-22.[S.11, 12A(1), 12AA]