S. 37(1) : Business expenditure—Expenditure on purchase of Indian premier league cricket match tickets to distribute amongst long standing customers to improve its business relations—akin to distribution of gifts or articles on special occasions to customers —Deductible.

S. 37(1) : Business expenditure-Sale of goods through e-commerce at less than cost price-transaction bona fide-loss created due to predatory pricing not capital expenditure.

S. 36(1)(iii) : Interest on borrowed capital—Part of interest capitallised and transferred to pre-operative expenses— Disallowance again on interest amounts to double deduction — Addition to be deleted.

S. 32 : Depreciation-Block of assets-No requirement that business use of each of assets of block to be seen and examined and depreciation to be allowed only in respect of assets used. [S.2(11), 50]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Supply of equipment-sale from outside India-Risk and title transferred outside India and no transaction taking place in India-Customs clearance, inland transportation done by buyer on its own-No permanent establishment involved in sale–Income is not taxable in India-DTAA–India–Japan [S. 44D, Art. 7, 24]

S. 2(22)(e) : Deemed dividend-Advance to shareholders— Interrelated group concerns—Advances given by one concern to another concern to tide over short-term financial deficiency to be treated as commercial expediency—Amount given not in nature of any loans or advances to assess as deemed dividend.

S. 80IA :Industrial undertakings – Infrastructure development- Contractor and not developer – Question of law is a substantial question of law admitted by High Court . [S. 80IA(4) , 260A ]

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – Merely because period of three years expired from arising of the liability would not automatically mean that the liability has ceased – Order of Tribunal is affirmed .

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – Old unpaid liability for sundry creditors- Exhaustion of period of limitation may prevent filing of recovery proceedings in a Court of law, nevertheless it cannot be stated by itself that the liability to repay the amount had ceased- Addition cannot be made .

S.32: Depreciation –Installation of windmill – 80% depreciation allowed on Civil Construction ,electrical and other non integral part of installations – Held to be allowable .