S.44AB: Presumptive taxation — Construction Business — Appellate Tribunal remanding the matter-The Assessing officer not following the direction of the Appellate Tribunal – Directed the Assessing Officer to follow the direction- Availability of alternative remedy is not bar to entertaining the writ petition [ S.44AD ,144, 251(1),Art , 226 ]

S. 43A : Rate of exchange – Foreign currency – Business loss- Rate of Exchange of foreign currency – loss on settlement of forward contract – Held to be allowable .

S. 40A(2): Expenses or payments not deductible – Excessive or unreasonable – Discount and rate difference- Deletion is held to be justified .

S.37(1): Business expenditure — Capital or revenue-Expenditure on replacing machinery destroyed by fire — Expenditure on dies and tools — Allowable as revenue expenditure.

S.37(1): Business expenditure — Legal expenses —Defend its Directors and shareholders in individual capacities- Disallowance is held to be proper . [ S.260A ]

S.37(1): Business expenditure -Capital or revenue -Acquisition of non-transferable sub-licence – Allowable as revenue expenditure.

S.37(1): Business expenditure — Capital or revenue -Acquisition of technical know-how -Depreciation- Allowable as revenue expenditure . [ S.32(1) ]

S.32: Depreciation —Uninterrupted power supply system for Computers —Entitled to depreciation at 60 Per Cent.

S.28(i):Business loss —Fluctuation in rate of foreign exchange — Allowable as business loss . [ S.37(1) ]

S. 11 : Property held for charitable purposes – Charging certain goods and services – Not commercial activities – Onus on department to prove profit motive – No change in nature of activities from earlier years – Principle of consistency is applicable- Entitle to exemption [ S.2(15) 12 , 13 80G(5)(v)]