S.14A: Disallowance of expenditure – Exempt income – There was no exempt income earned and interest expense was not related to strategic investments of the company- Disallowance is not justified . [ R.8D ]

S. 14A : Disallowance of expenditure – Exempt income – Disallowance cannot made as without bringing basic fact that expenditure actually incurred to earn exempt income- Matter remanded to the AO. [ R.8D( 2) (ii) ]

S. 14A : Disallowance of expenditure – Exempt income -Share capital and reserve and surplus is higher than the investment in shares -No disallowances can be made [ R.8D(2)(ii) ]

S. 12AA : Procedure for registration –Trust or institution-Refusal of registration was held to be not justified without bringing any evidence to demonstrate that the object of the Trust is not charitable .[ S.2(15) ]

S. 12AA: Procedure for registration – Trust or institution – Power to reject application cannot be delegated by the CIT to its subordinates.[ S.12A ]

S. 12AA: Procedure for registration – Trust or institution – Establishment of diagnostic centre is in line or coherent with objective of medical relief – Non-communication of amended trust deed is a mere irregularity

S. 11 : Property held for charitable purposes – Revenue had not proved that registration granted u/s. 12AA had been withdrawn- Claim of exemption u/s. 11 would not be denied-Matter reamanded to CIT(A). [ S. 12AA,13 ]

S. 11 : Property held for charitable purposes – Micro financing activity is in nature of trade, commerce or business hence is not entitle to exemption as charitable purpose. [ S.2(15) ]

S. 10A : Free trade zone – Period of ten consecutive years to be reckoned from year of commencement of manufacture and not from incorporation.

S.10(23C) : Educational institutions- For grant of approval u/s.10(23C)(vi) the institution must exist solely for educational purpose and not for profit. The other objects such as encourage sportsman and adventurous spirit in the pupils and those connected with the institution; to print, publish and exhibit films, journals, periodicals, books for the diffusion of useful knowledge and to provide residential accommodation either free of cost and educate, train and assist financially the social workers, staff, students, orphans objects other than educational objects- Rejection of application for grant of approval is justified.[ S.10(23C)(vi) ]