S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – The mere fact that the assessee has made an entry of transfer in his accounts unilaterally will not enable the Department to say that section 41 would apply and the amount should be included in the total income of the assessee- Deletion of addition was held to be justified .

S.37(1):Business expenditure — Amount spent on construction of houses for poor in Centenary Year — Expenditure not for purposes of business hence not allowable as deduction .

S.37(1): Business expenditure — Capital or revenue – Payment of non-Compete fees for retention of expertise — Expenditure incurred on account of non-compete fees is held to be revenue expenditure.

S.37(1):Business expenditure — Capital or revenue – No distinction between feature films and TV Serials – Write off of expenditure incurred on abandoned Tele serial is held to be revenue expenditure- CBDT Circular No 16 of 2015 dt.6-10-2015 is applied.[R.9A].

S.36(1)(vii) :Bad debt – Mere write off is sufficient and it is not necessary to establish that debt had become irrecoverable.

S.36(1)(vii) :Bad debt – Mere write off is sufficient and it is not necessary to establish that debt had become irrecoverable.

S.36(1)(iii): Interest on borrowed capital —Capital can be used for acquisition of capital asset —Premature redemption of premium notes — Liability for interest is not contingent —Interest is deductible.

S. 36(1)(iii) :Interest on borrowed capital – 15% rate of interest was paid on borrowed capital – Allowable as deduction on principle of commercial expediency .[ S.37(1) ]

S. 36(1)(iii) :Interest on borrowed capital -Amount borrowed utilised for purchase of capital assets — Interest is deductible .

S. 35 : Scientific research – Weighted deduction —Date of approval is not relevant — Application for approval in December 2006 and approval was granted in October 2008 — Entitle to weighted deduction.[ S.35(2AB) ]