S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made.[S. 260A, R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made.[S. 260A,R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made-Delay of 340 days-SLP of Revenue is dismissed on account of delay in filing of SLP-Question of law, if any is kept open. [R.8D, Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made-Order of High Court is affirmed-SLP of Revenue is dismissed. [R. 8D, Art.136]

S. 14A : Disallowance of expenditure-Exempt income-Borrowed capitals-Investing in shares to earn income from dividend-Expenditure incurred on interest paid on borrowed funds is not allowable as deduction-SLP of assessee is dismissed [S.10(33), 36(1)(iii), Art. 136]

S. 11 : Property held for charitable purposes-Donations other charitable institutions-Out of accumulated income-Direction as part of corpus donations-Not hit by Explanation 2 to section 11(1) of the Act. [S.11(1), 11(2), 11(3), 11(3)(d), 260A]

S. 10A : Free trade zone-Rental income-Sub lease of two units-Eligible for inclusion in profit as they were intimately connected with business of undertakings-SLP of Revenue is dismissed. [Art. 136]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Software-Sub-contracted certain overseas subsidiary-Not liable to deduct tax at source-No substantial question of law. [S. 195, 201(1), 201(IA), 260A]

S. 9(1)(vii):Income deemed to accrue or arise in India-Fees for technical services-Software-Sub-contracted certain overseas subsidiary-Not liable to deduct tax at source-Special leave petition filed against said order of High Court is dismissed was to be dismissed as there is gross delay of 296 days and also on merits.[S. 195, 201(1), 201(IA), Art. 136]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Fees for technical services-Non-resident-Computer software manufacturer/supplier for resale/use of computer software through distribution agreements-Payment did not amount to royalty for use of copyright in computer software-Not taxable in India-Not liable to deduct tax at source-No substantial question of law-DTAA-India-Finland [S.9(1)(vii), 195, Art.12]