S. 28(i) : Business loss-Embezzlement of stock by an employee-FIR is filed-Loss is allowable as business loss. [S. 37(1), 145]

S. 28(i) : Business income-Capital gains-Own capital-Share dealings-Assessable as business income.[S. 45]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Purchase of luxury vehicle-Registered in name of manging trustee-Not able to establish that vehicle was utilized for purpose of charitable activities-Exemption under sections 11 and 12 is denied on value of vehicle purchased [S. 11, 12, 13(1)(c)]

S. 12AB: Procedure for fresh registration-Particular religious community or caste-Trust is in existence since 1946 i.e., prior to Income-tax Act came into force-Provisions of section 13(1)(b) is not be applicable.[S.11, 13(1)(b) Rule,17A]

S. 12AA : Procedure for registration-Trust or institution-Cancellation of registration-Provisions of section 12AA/12AB do not provide for cancellation of registration with retrospective effect. [S.12AB]

S. 12A : Registration-Trust or institution-Failure to comply with show cause notice-Cancellation of provisional registration-Matter remanded to Commissioner (E).[S.12AB]

S. 12A : Registration-Trust or institution-Technical mistake in preparing application-Typographical error corrected-Remanded back to file of Commissioner (E) for fresh adjudication by considering amended application. [S. 12A(1)(ac)(ii), 12(ac)(iii), Form No10AB.]

S. 12A : Registration-Trust or institution-Denial of exemption-Trust or institution-Investment restrictions-Provisions of section 13 can be invoked only at time of assessment and not at time of grant of registration under section 12A-. Matter is restored to file of CIT (E), for de-novo consideration. [S.13(1)(b)]

S. 11 : Property held for charitable purposes-Intimation-Form 10B was filed-Failure to mention 12A registration-Adjustment is bad in law-Entitle to exemption. [S. 12A,139(1), 143(1)(a), R.17B, Form 10B]

S. 11 : Property held for charitable purposes-Delay in filing Form 10B-Audit is completed before due date of filing of return-Procedural delay-CIT(A) is directed to pass fresh order on merits as per law. [S.12A, 139(1), Form No.10B]