S. 68 : Cash credits-Share application-Accommodation entries-Identity, creditworthiness and genuineness of transactions are established-Order of Tribunal deleting the addition is affirmed-Statement is retracted-Order of Tribunal is affirmed [S. 132(4), 260A]

S. 40A(3) :Expenses or payments not deductible-Cash payments exceeding prescribed limits-No credible document produced to show why payment had to be made on bank holiday-Order of Tribunal is affirmed. [R.6DD, 260A]

S. 12A : Registration-Trust or institution-No activities had been carried on-Rejection of application is not justified-Order Tribunal is affirmed. [S. 11, 12AA, 260A]

S. 10 (23C): Educational institution-Multiple objectives beyond educational purposes-Not founded and existed solely for educational purposes-Denial of exemption is affirmed. [S. 10(23C)(vi), Art. 226]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Sub-licensed sports broadcasting rights in relation to live feeds to Indian company-live feed cannot constitute a scientific work-Fees received cannot be considered as royalty-DTAA-India-Singapore. [Art. 12]

S. 56: Income from other sources – Long term capital loss -Share transfer agreement – Shares sold at an undervalued price – Related party transaction – AO claimed that the transaction was structured to avoid tax – Shares valued at upwards of Rs 19000 , per share were sold for Rs 100 per share – Valuation was not in accordance with Rule 11UA – Matter remanded back to AO for recalculating capital gains. [ S. 45 ,56(2)(vii)(b), 56(2)(x), R.11UA(1)(c)(v) ]

S.36(1)(iii): Interest on borrowed capital –Interest on ICDs used for giving interest-free security deposit for getting the premises on leave and license – Business purpose – Interest is allowed as deduction. [ S. 37(1)]

S. 6(1) : Residence in India – Individual -Stayed more than 60 days in each year – More than 365 days in india for a period or periods amounting to all to 365 days or more -More than 183 days for AY. 2013 -14 & 2014-15 – Control and management office is located in Chennai , India – Foreigners Regional Registration Office (FRRO) data and travelling on a social/tourist visa – Business not the purpose of the travel interest – Resident – Global income taxable and credit available to assessee- Credit for Foreign taxes paid is directed to be allowed , subject to verification- DTAA -India -UAE [ S. 6(1)(a), 6(1)( c), 6(4) , 90, 91, 132 , Art. 4 ]

S. 4 : Charge of income-tax – Compensation – Surrender of premises – Allocated flat as compensation to remove illegal occupant – The value of flat received by the assessee as compensation for removing nuisance shall constitute capital receipt – Not taxable. [ S. 2(24),54F, 56(2)(vii)( b )]

Prohibition of Benami Property Transactions Act, 1988
S. 4 : Prohibition of right to recover property held benami-Fiduciary capacity-Joint ownership suit property-known sources-Absence of documents evidencing existence of a fiduciary relationship and existence of corpus of funds made available by plaintiff from his/her known sources-Claim of ownership is barred. [S. 2(9)(A)(ii)]