S. 37(1) : Business expenditure-Foreign travel expenses-Personal in nature-Disallowance is held to be justified.

S. 36(1)(ii) : Bonus or commission-Commission paid to director-Director paying taxes at maximum marginal rate-Allowable as deduction.

S. 32 : Depreciation-Use of asset for purposes of business-Income need not be earned-Depreciation is allowable-Block of asset-Remand to CIT(A) is held to be justified. [S. 2(11), 254(1)]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Exemption cannot be denied to entire income-Denial should be confined to amount diverted for benefit of persons mentioned in S. 13. [S. 11, 13(1)(c)(ii), 13(2)]

S. 147:Re assessment – Export oriented undertakings-Instruction of CBDT Dated 9-3-2009 Clarifying that approval granted by Software Technology Parks of India has to be ratified by Board of approvals-Instruction valid.-Writ petition was dismissed . [ S. 10B, 148 , Art , 226 ]

S. 10B : Export oriented undertakings-Computer software-Export of customized electronic data relating to engineering and design-Entitled to exemption. [S. 10BB]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Premium paid was for imparting commercial information and knowledge and was royalty both under Act and under DTAA-Premium payment could not be treated as fees for technical services-India-Brazil. [S. 5, 9(1)(vii), Art. 12(3)]

S. 4 : Charge of income-tax-Income or capital-Sale of Carbon Credits-Capital receipt-No cost of acquisition of production to get entitlement Not assessable under any head of income. [S. 28(i), 56]

S. 147 : Reassessment – Bogus purchases – Information must be reliable and there must be some evidence to believe that purchases are bogus- Reassessment was quashed . [ S.148 ]

S. 147 : Reassessment –Reasons recorded are different than the reasons supplied – Reassessment was quashed. [ S. 148 ]
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