S. 10(23C) : Educational institution-Substance over form to be considered-Matter remanded back to the Chief CIT with a direction to examine the entire financials and to take decision on merits in accordance with law. [S. 10(23C )(vi), 12, Art.226]

S. 9(1)(vi) : Income deemed to accrue or arise in India–Royalty– Payment made for use of software-Not royalty-DTAA-India-USA-United Kingdom. [S. 195, Art. 12]

S. 9(1)(vi) : Income deemed to accrue or arise in India–Royalty– Payment made to supplying drawings, designs etc–Before commencement of production-Not royalty-Not liable to deduct tax at source DTAA-India-Austria. [S. 195]

S. 9(1)(vi) : Income deemed to accrue or arise in India–Royalty– Amount paid to Associated Enterprise towards embedded software– Not royalty-No substantial question of law.[S. 260A]

S. 5 : Scope of total income–Accrual of Interest-Question of fact–Deletion of addition is held to be justified-No question of law. [S.4, 260A, Infrastructure Development Board Act, 2001]

S. 5 : Scope of total income – Accrual of Interest-Question of fact– Deletion of addition is held to be justified-No question of law. [S. 4, 260A, Infrastructure Development Board Act, 2001]

S. 2(42A) : Short-term capital asset–Assignment of loan-Loss arising out of assignment of loan is allowable as short term capital loss. [S. 2(14), 2(42B), 28(i)]

S. 45(3) : Capital gains – Transfer of capital asset to firm – AOP – BOI – Full value of consideration – Stamp valuation- Deemed full value of consideration shall be considered for the purpose of computation of capital gain as per which the amount recorded in the books of account of the firm shall be taken as a full value of consideration- Provision of S.50C is not applicable- Special provision of S.45(3) override the general provision of S.50C of the Act . [ S.45 ,48, 50C ]

S.254(2): Rectification of mistake apparent on record – Application for rectification was filed with in period of six months – Order recalling the order is beyond period of limitation is held to be valid . [ S.255(5) , ITAT R. 24 ,Art.226 ]

S.254(1): Appellate Tribunal – Power -Delay of 3389 days – NO sufficient cause is shown – Tribunal is justified in rejecting the application for condonation of delay .[ S.260A ]