S. 11 : Property held for charitable purposes-Running business school-Payment to related party-Assessing Officer had not demonstrated how payment for business support services was not commensurate with market value of services availed of–Salary expenditure to faculty members-Disallowance for failure to file qualifications of teachers not sustainable-Disallowance is not warranted-Payment of commission to Consultants and counsellors is justified-Disallowance of expenses on computers to students is not reasonable. [S.12A 13(2)(c), 13(2)(c),13(2)(g), 13(3)]

S. 11 : Property held for charitable purposes-Corpus donations-Distinct and separate from income derived from property held under trust-Not entitled to exemption.[S. 2(24), 11(1(a), 11(1)(d), 12(1)]

S. 11 : Property held for charitable purposes-Donation to another trust with similar objects-Allowed as deduction in earlier years and latter years-Denial off exemption is not valid. [S.12A]

S. 10A : Free trade zone-Reconciled entire figure and entire reconciliation matched amount declared in Form 56F-Claim is directed to be allowed. [Form No 56F]

S. 10A : Free trade zone-Eligible profits-Interest income-Income from business eligible for deduction-Foreign exchange gain on exchange earners’ foreign currency account-Allowable.

S. 10A : Free trade zone-Computation-Total turnover-Expenses excluded from export turnover to be excluded from total turnover.

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Sub-Licence of designated rights-Not royalty-Addition is deleted-Deduction of tax at source-Direction is given to Assessing Officer to verify and allow correct credit of taxes deducted at source.[S. 9(1)(i), Form 26AS.]

S. 4 : Charge of income-tax-Income-Accrual-Interest on non-performing asset-Deletion of addition is affirmed. [R.6EA]

S. 4 : Charge of income-tax-Accrual of income-Bank-Guarantee commission-Earned for unexpired period of guarantee contract-Offered to tax in succeeding years over period of guarantee-Interest from non-performing assets-Addition is deleted. [S. 4, 43D, R,6EA]

S. 276CC : Offences and prosecutions-Failure to furnish return of income –No regular assessment completed-Assessee did not fall within meaning and scope of a regular assessment to get protection to proviso (b) to section 276CC-Writ petition to quash the prosecution is dismissed. [S. 279, Art. 226]