S. 13A: Political parties-Income of political party-Non-filing of return within the due date-Not entitled to exemption-Claim for netting is also not allowed. [S.139(1), 139(4B]

S. 12AB: Procedure for fresh registration-Time limit-Existing society-Rejection of the application on the ground that the assessee was required to apply in Form No. 10AB within six months from the start of its activities is not justified-Failure to file proper replies-Matter remanded to the file of CIT(E) to decide in accordance with law. [S.80G(5), Form No.10AB]

S. 11: Property held for charitable purposes-Accumulation of income-Belated exercise of option during assessment proceedings]-The Assessing Officer was directed to allow the claim of deemed application of income. [S. 11(1), 12A,12B 143(3)]

S. 11: Property held for charitable purposes-Omission to show application of funds in the IT return-Denial of exemption was not justified.[S. 12, 139]

S. 11: Property held for charitable purposes-Change of name]-Not applied for fresh registration-Assessed under the normal provisions of the Act]-All permissible deductions, including expenditure incurred out of said income, allowable as deduction-Matter restored to the file of the Assessing Officer. [S. 12A, 37 (1)]

S. 10 (23C): Educational institution-Filing of return-total income of the assessee without giving effect to the provisions of s. 10(23C)(iiiad)] exceeded the maximum amount not chargeable to income-tax-Not required to file return of income either under section 139(1) or under section 139(4C)]-Return filed in response to section 148 cannot be treated as invalid]-Disallowance of claim was not justified. [S. 10(23C)(iiiad), 139(1) 139(4C), 148]

S. 10AA: Special Economic Zones-Non-submission of audit report along with return-Audit report was filed during assessment proceedings]-Exemption cannot be denied merely on account of delay in furnishing the audit report.[Form No 56F]

S. 9(1)(vi): Income deemed to accrue or arise in India]-Royalty-license fee for granting broadcasting right-Not royalty]-Apportionment of license fee-‘live coverage’ of the event has very large viewership as compared to a recorded broadcast and, therefore, it is appropriate to allocate 10 per cent of the license fee for broadcasting rights towards recorded events and 90 per cent towards ‘live coverage-DTAA-India]-USA.[S.90, Art. 12(3)]

S. 4: Charge of income-tax -Accrual-Interest receivable from foreign subsidiaries-Financial year-Failed to reconcile- Addition is affirmed.[S. 5, 145]

S. 2(22)(e) : Deemed dividend-Loan received from third parties not related to the company in which the assessee had a substantial interest- Difficult to presume that there was an arrangement or colourable device in respect of the transactions-loans received by the assessee from Sunil Jain and Heera Lal Modi cannot be treated as deemed dividend.