S. 45 : Capital gains- Business income -Short term gains on sale of shares and mutual funds – Rule of consistency is directed to be followed-Assessed as capital gains. [S. 28(i), 111A]

S. 43D : Public financial institutions–Interest income on loans categorised as NPA/sticky loans–Taxable on receipt basis and not on accrual basis. [S. 145]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-No part of services had been either rendered or received in India-Not liable to deduct tax at source on payments made to a non-resident company having no PE in India. [S. 195]

S. 40(a)(i) : Amounts not deductible-Deduction at source-TDS deposited beyond the due date but before the due date of filing the Return of income is an allowable expenditure. [S. 139(1)]

S. 37(1) : Business expenditure-Claim for gifts given to distributors/dealers for promotion where in assessee failed to give list of recipients to be disallowed to the extent of 30%.

S. 37(1) : Business expenditure–Foreign tour expenses–Research manager–Only 20% of expenditure is held to be personal in nature by the CIT(A)is upheld.

S. 37(1) : Business expenditure-Legal and professional charges- Retainership fees–Held to be allowable as deduction.

S. 37(1) : Business expenditure–Payment made to doctors Convention fees is allowable expenditure- Not prohibited by law.

S. 37(1) : Business expenditure–Charity / Pooja and festival expenses are allowable as deduction.

S. 37(1) : Business expenditure–Corporate Social responsibility (CSR )expenses are allowable as business expenditure- Amendment in S. 37(1) for disallowing CSR expenses referred to in S. 135 of Companies Act, 2013 would not apply to earlier years.