S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits -Deletion of addition by Tribunal on ground that expenditure negligible considering turnover of assessee -Matter Remitted to AO to redo assessment on consideration of related documents .
S. 40(a)(ia): Amounts not deductible – Deduction at source – Fees for professional or technical services – third party administrator for insurance companies – Payment through assessee- Not liable to deduct tax at source- No disallowances can be made [ S. 194J, 260A ]
S. 40(a)(ia): Amounts not deductible – Deduction at source – Fees for professional or technical services – third party administrator for insurance companies – Payment through assessee- Not liable to deduct tax at source- No disallowances can be made [ S. 194J, 260A ]
S.37(1):Business expenditure — Marketing expenses -Multi-Speciality Hospital — Gifts to doctors – Matter Remitted To Assessing Officer for verification to find out whether for canvasing for patients .
S. 37(1) : Business expenditure -Expenditure on acquisition of distribution rights of feature films —Film must be commercially exploited and income received and credited in books — Feature films never exhibited and no amount credited in profit and loss account —Deduction is not allowable .[ R9B ]
S. 37(1) : Business expenditure -Provision for warranty which is made on scientific basis is deductible. [ S.145 ]
S. 36(1)(iii) :Interest on borrowed capital – Advances made to sister concerns from own funds – No disallowances can be made .[ S.37(1) ]
S.32: Depreciation — Rate of depreciation —All equipment formed part of Life Saving Equipment —Denial of depreciation on computer is held to be not proper [ ITRules 1962, Appex. I, Part A Iii 3(Xia)(D).]
S.28(i):Business income — Capital gains — Conversion of agricultural land into residential plots and sale of residential plots -Consideration over fair market value to be assessed as business income -No question of law .[ S.4, 45 , 260A ]
S. 10 (23C): Educational institution-Exemption cannot be denied only on the ground that institution has earned surplus when the institution is solely for educational purposes .