S. 45 : Capital gains – Capital receipt – Professional goodwill -Business income -Compensation – Amount received against termination of right – Held to be capital receipt [ S. 2(14), 4, 28(ii(a), 55 ]

S.37(1): Business expenditure – Capital or revenue – DTT subscription to use Deloitte- Brand helped for getting more business- Held to be allowable as business expenditure.

S.37(1): Business expenditure – Club expenses – Expenditure Club expenses incurred by directors of company cannot be denied on ground of personal in nature.

S. 35 : Scientific research – Revenue expenditure incurred on in-house research and development facility, which was duly approved by competent authority . [ S. 35(1)(iv),35(2AB) ]

S.32 : Depreciation- Trade mark – Depreciation cannot be rejected on ground that agreement to acquire trademark was entered into on post dated stamp paper. [ S.147 ,148 ]

S. 14A : Disallowance of expenditure – Exempt income – Disallowance cannot exceed more than exempt income .[ R.8D ]

S.2(24)(iv):Income- The value of benefit or perquisite- Success fee paid by company Tirumala Milk products Pvt Ltd to Barclays Bank could not be treated as perquisites . [ S.48(1) ]

S. 145: Method of accounting -Project Completion Method-Percentage Completion Method- Project completion method is held to be valid- Deletion of addition in respect of advance received from customers is held to be valid . [ S.145(3) ]

S. 260A : Appeal – High Court – Condonation of delay – Reasonable Cause – Affidavit -Delay of 1754 days- No knowledge of passing of order which was stated in the affidavit- Contents of the affidavit was not disputed by the respondent – Delay was condoned – Matters are restored to the file of High Court to decide the appeals on merit in accordance with law. [ S.260A(2A) ]

S. 253 : Appellate Tribunal – Powers-Delay of 571days- Mistake of counsel may be taken in to account in condonation of delay. [ S..253(1), 254(1), Limitation Act , 1963 , S.3, 5 ]