S. 12AA : Procedure for registration-Trust or institution-Refusal of Registration for non compliance of notices-Non compliance due to shifting of office-Matter remanded with direction to give an opportunity and decide after considering response of the assessee. [S. 12A]

S. 12AA : Procedure for registration-Trust or institution-Benefit of Registration granted in subsequent year-The benefit of registration will be conferred even to earlier years assessment proceedings which are pending as on date of such registration. [S. 11]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Double taxation relief-Fees for Technical Services-Engineering Services-Separate Contracts-No Make available cannot be invoked-Not taxable-Reimbursement-Not taxable-DTAA-India-USA. [S. 90, Art. 12]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Supervisory Permanent Establishment in India-Merely providing access to the premises of joint venture Company for the purpose of providing agreed services by the assessee would not amount to the place being at the disposal of the assessee-DTAA-India-Japan. [Art. 5(1), 5(4)]

S. 5 : Scope of total income-Accrual-Interest Income qua ICDs whose recovery is doubtful and legal proceedings have been initiated-Held, addition of Interest on ICDs cannot be sustained. [S. 4, 145]

S. 4 : Charge of income-tax-Business income-Sales tax subsidy-West Bengal Incentive Scheme, 1999-Capital Receipt-Not taxable. [S. 28(i), West Bengal Incentive Scheme, 1999]

S. 2(22)(e) : Deemed dividend-Finance company-Advance loan-Not assessable as deemed dividend.

S. 2(22)(e) : Deemed dividend-Amount received in previous year from an entity in which the assessee was having more than 25% shareholding-No evidence to show that amount received in current year-Addition is not valid.

S. 69 :Unexplained investments – Long term capital gains -Penny stock – Denial of exemption is not valid . [ S. 10(38), 45, 131 , 133A ]

S. 271(1)(c) : Penalty-Concealment-Approval-Procedure-Tribunal was not justified in quashing penalty order passed by Assessing Officer on mere premises that Additional Commissioner did not find place in section 274(2)(b) of the Act. [S. 2(28C), 274(2)]