S. 28(i) : Business income-Excess wastage of raw material-Cannot be assessed as suppressed/unaccounted production.

S. 23 : Income from house property-Annual value-Unrealised rent-Failure to produce evidence-Unrealized rent not allowable as deduction. [S. 24, R.4]

S. 14A : Disallowance of expenditure-Exempt income-Surrender of right to claim exemption-Matter remanded. [S. 10(34)]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds available was far more than investment-No interest expenditure can be disallowed. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Average value of investment which has yielded income during year shall only be considered for purpose of disallowance. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-No disallowance of expenses can be made if there is no exempt income earned during relevant previous year. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Not recording of satisfaction-Disallowance is held to be not justified. [R. 8D]

S. 11 : Property held for charitable purposes-Application of income-Income applied outside India for educational purpose-Specific approval from CBDT for said purpose-Claim of exemption was allowed-Rectification order passed by the Assessing Officer allowing the claim-Rectification order merged with Assessment order-Commissioner (Appeals) cannot hold that original order will survive. [S. 11(1)(c), 12A, 250]

S. 10A : Free trade zone-Turnover-Providing technical services outside India-Expenditure incurred towards date link charges/telecommunication charges etc-Excluded both from export turnover and total turnover for purpose of computation of deduction-Profit enhanced on account of disallowance entitled for deduction-Subsequent realized export income which was claimed by filing revised return is entitle for deduction. [S. 40(a)(ia)]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Reimbursement of cost for rendering administrative services-Not taxable in India as fee for technical services-DTAA-India-Denmark. [S. 9(1))(vi), Art. 13]