S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits- Issue remanded to CIT(A). [S. 40(a)(ia), 254(1)]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Purchase of intellectual property-Depreciation is not an expenditure-No disallowance can be made for failure to deduct tax at source . [S. 32, 37(1), 40(a)(ia)]

S. 37(1) : Business expenditure-Discount on employees Stock Option Plan-Allowable as deduction. [Companies Act, 1956, S. 2(15A)]

S. 37(1) : Business expenditure-Real estate business-Provision made in account for security deposit-Amount forfeited due to breach of contract-Neither allowable as business expenditure nor as bad debt. [S. 36(1)(vii)]

S. 37(1) : Business expenditure-Capital or revenue-Expenditure on acquisition of technical know-how-Enduring benefit-Not allowable as revenue expenditure.

S. 37(1) : Business expenditure-Take over business-Scheme for voluntary retirement of employees-Allowable as business expenditure. [S. 10(10C)]

S. 36(1)(viia) : Bad debt-Provision for bad and doubtful debts-Schedule bank-Deductible-Accrued interest on non-performing assets- Not taxable. [S. 4, 145]

S. 36(1)(vii) : Bad debt-Written off as irrecoverable in accounts-Allowable as deduction. [S. 36(2)]

S. 36(1)(vii) : Bad debt-Amount written off in accounts-Allowable as deduction-Res Judicata-Not Applicable-Principle of consistency is applicable. [S. 36(2)]

S. 32 : Depreciation-Finance lease-Lessor of assets leased in course of leasing business-Depreciation allowable.