S. 37(1) : Business expenditure-Reimbursement of salary paid by sister concern- Held to be allowable as deduction.

S. 37(1) : Business expenditure–Enhanced compensation-Matter set aside to examine lease agreement whether the assessee is entitle to recover from sub–lessees.

S. 37(1) : Business expenditure-Capital or revenue–Acquisition of Set Top Boxes (STB)–Capital expenditure-Depreciation is allowable at 15%.[S. 32].

S. 37(1) : Business expenditure–Trade advances–Allowable as deduction. [S. 28(i)]

S. 36(1)(iii) : Interest on borrowed capital–Stock in trade– Housing project–Percentage completion method-Interest on money borrowed-Added to cost of project. [S.145, AS 16]

S. 35 : Scientific research–Approval granted was cancelled subsequently with retrospective effect–Weighted deduction cannot be denied if there was valid and subsisting approval when donation was given.[S. 35(1)(ii)]

S. 32 : Depreciation-Power project–Housing colony for accommodation of staff involved in power project-Directed to AO to determine to compute depreciation on housing colony at rate of 3.02 per cent on SLM basis-.Matter remanded. [S. 32(1)(i)]

S. 32 : Depreciation-Power project–Housing colony for accommodation of staff involved in power project-Directed to AO to determine to compute depreciation on housing colony at rate of 3.02 per cent on SLM basis-Matter remanded. [S. 32(1)(i)]

S. 32 : Depreciation-Delivery from recognised seller–Denial of depreciation is held to be not justified.

S. 28(iv) : Business income-Value of any benefit or perquisites- Converted in to money or not-Discount received by assessee on buyback of Foreign Currency Convertible Bonds (FCCB) is capital receipt–Not liable to be taxed.[S. 4]