S. 115JB : Book profit–Unabsorbed depreciation-Business loss-Remand by the Tribunal is held to be justified–Provision for interest on bank loans made for earlier years–Waiver of interest-Finding of the Tribunal that interest was an unascertained liability is held to be not proper- matter remanded. [S. 43B]

S. 92B : Transfer pricing–Associated enterprises—Expenditure advertisement, marketing and promotion—deletion of arm’s length adjustment -Held to be justified. [S. 92C]

S. 72 : Carry forward and set off of business losses–Business loss can be set off only against business income [S. 28(i)]

S. 68 : Cash credits-Share application money–Failure to appear in response to summons- Addition is held to be justified. [S. 131]

S. 40(a)(ia) : Amounts not deductible-Deduction at source– Recipients of the interest income had included the income in their return and paid taxes thereon-No disallowance can be made- Second proviso inserted by Finance Act 2012 is retrospective effect. [S. 201(1)]

S. 37(1) : Business expenditure-Must be for business purposes–Not necessary that income should have been earned.

S. 37(1) : Business expenditure–Capital or revenue–Copy right expenses–Only license to use copy right–Allowable as revenue expenditure.

S. 37(1) : Business expenditure—Expenditure on software and payment to service provider is allowable as revenue expenditure.

S. 32 : Depreciation—Concept of passive user cannot be extended for long period—No allowance of depreciation in particular year— unabsorbed depreciation cannot be carried forward. [S. 32(2)]

S. 28(1) : Business loss-Capital loss-Transaction relating to acquisition of capital asset- Forfeiture of part of earnest deposit– Held to be capital loss and not revenue expenditure. [S. 37(1)]