S.28(i) : Business loss- Foreign exchange forward contracts to safeguard against losses due to fluctuation in foreign currency —Not speculative activity but business activity [ S.37 (1) ]

S.14A : Disallowance of expenditure – Exempt income -Investments in past years — Reserves and surpluses far in excess of investments No disallowance could be made [ R.8D (2)(ii)]

S. 14A : Disallowance of expenditure – Exempt income – Investments far below reserves and surpluses — Presumption that invested out of reserves and surpluses — No disallowance shown -Disallowance to the extent of Rs. 1,17,760 was sustained. [ R.8D( 2)(ii) , 2(iii) ]

S. 14A : Disallowance of expenditure – Exempt income – Only Investments which yielded exempt income during relevant period to be considered for computing average value of investment [ R.8D ]

S. 14A : Disallowance of expenditure – Exempt income – Not recording dissatisfaction with the working of disallowances given by the Assessee- No disallowance can be made – Industrial undertaking – Matter remanded to the Assessing Officer .[ R.8D 80IA(4)(iv) ]

S. 12A : Registration –Trust or institution- Charitable purpose –
Changes in objects clause — No communication form the commissioner – Tribunal directed the CIT(E ) to take into account the amended object which were amended prior to 01.04.2018, examine its genuineness and its compliance with respect to section 2(15) of the Act .[ S. 2(15 ) 11, 12AA, 80G ]

S. 11 : Property held for charitable purposes – Cash withdrawals- Directed to pass a speaking order [ S.2(15) 13 (1) ( c) ]

S. 11 : Property held for charitable purposes – Non-profit organisation — Fee received entitle for exemption-Principle of mutuality not claimed – The Assessing Officer cannot thrust upon the mutuality . [ S.2(15 ) 12A, 13 ]