S. 45 : Capital gains-Property sold by firm-Land was belong to one of the partner-Assessing Officer was required to arrive at figures of amounts realized on sale of assets owned by firm and compute profits on sale of same after deducting written down value as it stood in books of assessee-firm-No return was filed-Reassessment is affirmed. S. 147,148]

S. 40(a)(ia): Amounts not deductible-Deduction at source-catering expenditure for purpose of supply of food packets to its employees-Subjected to GST-Not contract-Not liable to deduct tax at source-Business promotion expenses to promote business and rewards to employees to achieve work targets-Facilities/amenities made available by hotel to its customers do not constitute ‘work’ within meaning of section 194C-Hotel room booking expenses incurred by assessee were not liable to TDS under section 194C. [S. 194C]

S.37(1): Business expenditure-Investments in subsidiaries-Expenditure is allowable as business expenditure-Excess remuneration to directors-Matter remanded. [S. 2(13)]

S.37(1): Business expenditure-Interest on loan taken from State Government-Allowable as deduction.

S.37(1): Business expenditure-Provision for claim payout on basis of actuarial report furnished by an independent actuary-Allowable as deduction. [S. 145]

S.37(1): Business expenditure-Managing director Managerial remuneration-Allowable as deduction-Remuneration-Not excessive or unreasonable-No disallowance can be made.[S. 40A(2)(b)]

S. 28(i) : Business income-Joint development agreement-Transfer of capital asset into stock-in-trade-Capital gains-Double taxation-Taxable in the year 2012-13.[S. 45(2)]

S. 23 : Income from house property-Annual value-let out residential properties to companies for commercial use-Entitled to claim deduction of mixed land use charges paid to MCD against rental income received from tenants. [S. 22]

S. 23 : Income from house property-Annual value-Office premises-ALV to be determined on municipal rentable value-Matter remanded [S. 22]

S. 23 : Income from house property-Annual value-Property let in earlier period-Vacant for whole year-Annual value to be taken as Nil.[S. 22, 23(1)(a), 23(1)(c)]