S.14A : Disallowance of expenditure-Exempt income-Shares held as stock in trade-Dividend income earned-Order of Tribunal deleting the addition is affirmed. [S.260A]

S. 14A : Disallowance of expenditure-Exempt income-Depreciation-Rule of consistency followed-Appeal of Revenue is dismissed.[S. 32, R.8D]

S. 12AB: Procedure for fresh registration Cancellation of registration with retrospective effect-On writ filed by the petitioner, the Court granted the interim stay. [S. 12A, 12AA, 12AB(4), Art. 226]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Subscription fee-From members Non-commercial objectives, professional practices, and articles did not reflect any element of commerciality, subscription fee would not be in nature of FTS-Also exempt on principle of mutuality-DTAA-India-Switzerland.[S.4, 260A, Art. 6.2(a), 6(2)(b), 7.5, 12]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Income of supply of CAS and middleware products by the Switzerland company to Indian customers-Does not fall within the ambit of ‘royalty’ as defined in section 9(1)(vi) as well as DTAA-Not liable to deduct tax at source-DTAA-India-Switzerland [S.195, 260A, Art. 12(3) [

S. 9(1)(i): Income deemed to accrue or arise in India-Business connection-Business profits-Disallowed engineering fees on the ground that time log sheets were not filed, debit notes furnished provided sufficient information as to nature of duties and number of hours spent-Order of Tribunal deleting the disallowance is affirmed-Article 7 of OECD Model Convention. [S. 260A]

S. 9(1)(i): Income deemed to accrue or arise in India-Business connection-Business profits-Composite contract-Service rendered and payment received outside India-Income earned on account of offshore supplies was not taxable-DTAA-India-South Korea.[S. 234B,260A, Art. 7]

S. 2(22)(e): Deemed dividend-Capital contribution by companies in which assessee Firm’s partners were shareholders-Commercial Transaction-Not loans and advances-Not assessable as deemed dividend. [S. 260A]

S. 80IB(10) : Housing projects-Built up area less than 1000 sq.ft-Deduction claimed on basis of approved plans of BMC, occupancy certificate issued by BMC-High Court affirmed the order of Tribunal-SLP of Revenue is dismissed. [Art. 136]

S. 68 : Cash credits-Opportunity to cross examination was not given-Produced affidavit of lenders and notice issued was complied with-High Court affirmed the order of the Tribunal deleting the addition-SLP of Revenue is dismissed. [S. 131, 133(6), Art. 136]