S. 36(1)(iii) : Interest on borrowed capital-Diversion of funds-Proportionate interest paid on said diverted funds was to be disallowed.

S. 30 : Rent rates, taxes, repairs and insurance for buildings-Premises on short-term lease-Allowable as revenue expenditure.

S. 28(i) : Business income-Letting out properties-Assessable as income from business and not as income from house property.[S.22)

S. 12A : Registration-Trust or institution-Voluntary contributions-Trust is not registered-Corpus donation will form part of taxable income-Failure to produce vouchers disallowance of expenditure is justified. [S. 2(24(iia), 11, 37 (1)]

S. 11 : Property held for charitable purposes-Lease rent-Lessee companies were part of same group where trustees of assessee-trust and their relatives held more than 50 per cent of shares, tenants of rented property-Section 13(3) and as provisions of section 13(1)(c) read with section 13(1)(b) were violated-Assessee is not entitled to claim exemption under section 11. [S. 12AA, 13(1)(b), 13(1(c), 13(3)]

S. 11 : Property held for charitable purposes-Lease of properties-Rental income-Order of the Assessing Officer estimating the income at notional rental income is deleted-Only actual rental income be assessed. [S. 12AA, 13, 22, 23]

S. 10(23C) : Educational institution-Condonation of delay-Commissioner (E) is not vested with any power to condone delay involved in filing application for grant of approval under section 10(23C)(vi) [S. 10(23C)(vi)]

S. 10(23C) : Educational institution-Hospitals-Treatment at concessional rate provided by hospital to patients accounted for less than 1 per cent of revenue-Denial of exemption is justified. [S. 10(23C)(vi), 12AA, 80G(5)(vi), Companies Act, 2013, S. 8]

S. 10 (23C): Educational institution-Donations-not wholly or substantially financed by Government of India-Matter remanded to the file of CIT(A) for reconsideration. [S. 10(23C)(iiiab)]

S. 10(2A) : Share income of partner- No distributable profits-Partnership firm had earned profit-Partner is eligible to claim exemption.