S.37(1): Business expenditure — Contribution to staff welfare fund was held to be allowable expenditure.

S.37(1): Business expenditure -Discount on shares allotted by assessee to its employees under ESOP scheme out of its share capital is an allowable deduction .

S.37(1): Business expenditure -Premium paid for Keyman Insurance was allowable in year in which premium was paid.

S.37(1): Business expenditure – Capital or revenue- Annual lease premium paid for acquiring mining rights on a land was capital expenditure.

S. 37(1): Business expenditure –Commission agents – Confirmation and tax was deducted at source- Disallowance on the basis of presumption was held to be not valid

S.37(1): Business expenditure — Capital or revenue-— Expenditure on issue of debentures was held to be allowable as revenue expenditure irrespective of nature of debenture.

S. 37(1):Business expenditure —Accrual- Enhancement of Licence fee payable to Railways in the year in which payment was issued .

S. 37(1) : Business expenditure – Capital or revenue -Non compete fee was held to be capital in nature

S. 37(1):Business expenditure — Expenditure in excess of 6 Per cent. of initial issue expenses of asset management company was held to be deductible. Expenditure relating to Information Technology Infrastructure was also held to be allowable . [Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 R. 52 ]

S. 37(1) : Business expenditure -Interest on overdue deposit on overdue deposits is ascertained liability hence allowable as deduction .