S. 37(1) : Business expenditure-Contribution to recognized provident fund–Payment of pension to retired employees-As per scheme approved by the Government which had statutory force, hence, it would fall within the general deductions under S.37(1) and cannot be brought under S.36(1)(iv) and (v) of the Act [ S.36(1)(iv), 36(1) (v) ]

S. 37(1) : Business expenditure-Accounts—Rejection—Apportionment of proportionate expenditure between two units—Each of the expenses allocated by the assessee has been rightly reflected in the books of accounts of both the units—AO was not justified in computing profits of both the units on the basis of allocation of proportionate expenditures, in the ratio of their respective turnover to the combined turnover. [S. 10B(7), 145]

S. 37(1) : Business expenditure-Scientific research-The direction of the State Government for payment of contribution came just before the end of the financial year, entire expenditure is allowable on accrual basis-Claim cannot be disallowed under S. 35(1)(ii) as assessee did not claim weighted deduction. [S. 35(1) (ii)]

S. 36(1)(vii) : Bad debt–Provisions for bad and doubtful debts-Reduced from advance account in the balance sheet allowable as deduction to the extent of write off. [S. 36(1)(viia)]

S. 36(1)(iii) : Interest on borrowed capital-Borrowings were utilized for purpose of construction business-No disallowances can be made.

S. 35D : Amortisation of preliminary expenses–Deduction granted earlier years – Deduction to be allowed for balance period.

S. 32 : Depreciation-Goodwill–Intangible Asset–Amalgamation–Matter remanded to CIT(A)]

S. 32 : Depreciation—Written down value—Valuation report-AO to decide allowable depreciation after considering valuation report submitted for earlier assessment years.

S. 32 : Depreciation–Business and commercial rights-Goodwill–Intangible Asset-Entitle for depreciation.

S. 32 : Depreciation–LED Panel–Rate of depreciation is allowable as applicable to computer. [Information technology Act, 2000, S. 2(1)]