S. 45: Capital gains – Transfer – Development agreement -No real development took place till date – Matter restored to AO to decide the capital gains after verifying whether the possession is taken back by the assessee or not and the assessee cancelled the development agreement or not.[ S.2(47) (v)]

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits – purchase of lands from farmers – Disallowance deleted. [ R.6DD]

S. 40(a)(ii) : Amounts not deductible – Rates or tax – Business expenditure – deduction for foreign taxes paid allowed while computing its income, to the extent that such tax was not entitled to the benefit of section 91 of the Act.[ S.37 (1), 91 ]

S. 37(1) : Business expenditure – expenditure on implementation of a new software package – Allowable as revenue expenditure.

S. 37(1) : Business expenditure-expenditure incurred on affixing adhesive stamps on conveyance deed-held, it is revenue expenditure-provision for warranty-provision for present obligation due to past event-not a contingent liability-expenditure allowed-Depreciation on goodwill and customer contracts-held in nature of intangible assets, therefore eligible for depreciation [ S. 32. ]

S. 36(1)(iii): Interest on borrowed capital –Interest free advances made-availability of sufficient own funds- addition deleted by the Tribunal-delay in payment to the account of Provident Fund-disallowance upheld-delay in pronouncement of order by the Tribunal-90 days period should exclude at least the lockdown period. [ S.254 (1), ITAT R. 34(5)]

S. 14A : Disallowance of expenditure – Exempt income – Ad-hoc disallowance – Deleted.[R.8D ]

S. 10AA : Special economic zones –Transfer pricing voluntary adjustments – Entite to deduction in enhanced income [ S.92C ]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty – Singapore tax resident providing bandwidth services – Cannot be taxed as royalty as Indo-Singapore DTAA does not include transmission by satellite, cable, optic fiber or similar technology in the definition of ‘Royalty’- DTAA -India – Singapore [ Art. 12 (3)]

S. 4 :Charge of income-tax – Assessee a Federation of co-operative societies received contribution from its members towards co-operative education fund – Assessee had no discretion to spend amount received – the contribution could not be treated as income of assessee.[ S.80P(2)(a)(i)]