S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-DTAA-India & Belgium–Issuing gradation certificate, the payment cannot be characterize as fees for technical services, not liable to deduct tax at source-DTAA-India- Belgium [S. 9(1)(vii], Art.
12,13]

S. 4 :Charge of income-tax – Capital or revenue- Sales tax subsidy is a capital receipt. [ S. 264 ]

S. 4 : Charge of income-tax -VAT subsidy -Refund of value added tax was held to be capital receipt and not chargeable to tax . [ S. 2(24)(xviii) , 43(1) ]

S. 4 : Charge of income-tax -Accrual – Interest on project advance –Development agreement has not taken place as the interest has not accrued, income cannot be assessed on hypothetical basis [ S.145 ]

S. 4 : Charge of income-tax – Capital or revenue- Notional sales tax – Question of law [ S. 260A ]

S. 4 : Charge of income-tax –Capital or revenue – Causal and non –recurring- Capital gains- Compensation paid for breach of contract was held to be capital in nature [ S. 2(24), 10(33) 45. 55(2)(a) ]

S. 4 : Charge of income-tax -Mutual concerns –Surplus earned was spent for common benefit of members of for carrying on objects of the Club – Principle of mutuality is applicable and surplus cannot be brought to tax .

S. 4 : Charge of income-tax – Interest on amount of sundry debtors outstanding cannot be charged on accrual basis [ S. 145 ]

S. 4 : Charge of income-tax – Mutuality- Receipts by Co -operative society form its members ie. Non-occupancy charges , transfer charges common amenity fund charges and other charges , are exempt from income -tax Act based on the principle of mutuality [S. 2(24), Maharashtra Co -operative Societies Act , 1960 , S. 79A ]

S.2(14)(iii) : Capital asset – Agricultural land -Capital gains- Business income- Sale of agricultural land purchased on good price and purchasing the land of higher volumes at different places cannot be regarded as trader- Entitle to exemption. [ S. 2(14) , 28(i)]