S. 36(1)(iii) :Interest on borrowed capital – Advance to subsidiaries- Presumption is that the advance was from the interest free generated or available with the company- Disallowance of interest was held to be not valid .

S.36(1)(iii): Interest on borrowed capital -Firm- Exempt income -Capital assets received in form of shares in names of partners and not firm — Failure to establish shares forming part of capital account of firm —Disallowance was held to be justified [ S. 14A , 263 ]

S. 35E :Expenditure on prospecting – Minerals –Amortisation- 10% of expenses was held to be allowable .

S. 35D : Amortisation of preliminary expenses – No disallowances can be made as there was no material to show that the business income of shipping division was offered on basis of tonnage tax scheme [ S. 37(1) ]

S. 35 : Scientific research – Approval of competent authority is mandatory to claim weighted deduction [ S. 35(2AB)]

S. 32: Depreciation — Gym equipment installed in premises of assessee’s Managing Director was held to be allowable .[ S. 2(11) ]

S. 32: Depreciation — Depreciation cannot be disallowed on motor car only on the reason that cars were parked on promoter’s premises .

S. 32: Depreciation — Catalyst is entitle to depreciation.

S. 32: Depreciation —Block of assets – Loss on sale of motor car debited in Profit and loss account was held to be not allowable, however depreciation was held to be allowable after reducing sale proceeds from remaining block of assets . [ S. 2(11) ]

S. 32: Depreciation – Right to operate the toll road /bridge -Commercial rights which is entitle to deprecation .[ S.32(1)(ii)]