S. 69A : Unexplained money–On money-Loose documents–There was no reliable or independent evidence to come to the conclusion that the assessee had accepted on-money in the sale of the constructed properties–Deletion of addition by the Tribunal is up held.

S. 37(1) : Business expenditure-Deputation and other cost-Hotel management and marketing fees-Reasonable and necessary to run business- Held to be allowable.

S. 32 : Depreciation-Licenses, permits, approvals-Intangible- Purchased in slump sale-Depreciation is allowable at rate of 25 per cent.

S. 28(i) : Business income–Royalty-Addition cannot be made in respect of which no services were rendered.

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income of relevant year- Instead of taking into account total investment, investment attributable to dividend was required to be adopted an thereafter disallowance was to be arrived. [R. 8D]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions – Funds utilised for purchase of car in name of its trustee-Denial of exemption should be limited only to amount which was diverted in violation of S. 13(2)(b) of the Act. [S. 11, 132 (2)(b)]

S. 12AA : Procedure for registration –Trust or institution- Advance the computer communication in India with a view to promote rapid national wide development of sector and to promote the technological growth of the country by holding video conferencing facilities, conferences work shop etc, is charitable in nature – Entitle to registration. [S. 2 (15), 11]

S. 11 : Property held for charitable purposes-Rent paid to trustees for using land and building–Fair market value-Rent paid to Trustees was not excessive considering the fair market value of the property – Exemption could not be denied. [S. 12, 13(3)]

S. 43B : Deductions on actual payment – Employees Sate Insurance and provident fund dues paid beyond prescribed period – Not allowable as deduction .[ S.2 (24)(x), 36 (1)(va) ]

S. 36(1)(iii) :Interest on borrowed capital – Capital or revenue -Prior to 2003 ,interest on capital borrowed for the purpose of capital expenditure is deductible .[ S.37(1)]