S. 37(1) : Business expenditure-Club membership fees for employees and entertainment of customers-Allowable as business expenses.

S. 37(1) : Business expenditure Duty Drawback-Reimbursing Duty Drawback To Supporting Manufacturers Through Account Payee Cheques-No disallowance can be made. [S. 133(6)]

S. 32 : Depreciation-Windmill-Civil work and electric generator part of windmill-Rate as applicable for windmill i.e. 80%-Applicable To Civil Work And Electric Generator-Entitled to additional depreciation.

S. 32 : Depreciation-Leased assets-Eligible depreciation accordance with schedule of assets-Computer software capitalised-Entitled to depreciation at 60 Per Cent.

S. 14A : Disallowance of expenditure-Exempt income-Administrative expenses-Restricted to the extent of exempt income. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during year-No disallowance can be made. [R. 8D]

S. 11 : Property held for charitable purposes Charitable Purpose-Amended objects-Enabled to exploit infrastructure for commercial purposes-Not entitled to exemption. [S. 2(15)]

S. 10AA : Special economic zones-Free Trade Zone-Declaration on Software Technology Parks of India forms sufficient-No Requirement to maintain separate books of account-Entitle to exemption on incremental income arising pursuant to advanced Pricing Agreement (APA).

S. 10A : Free trade zone-Turnover-Expenses to be reduced from export turnover as well as from total turnover.

S. 5 : Scope of total income Accrual of income-Dispute in project work and reconciliation-Award of Interest-Not enforceable award or decree-Not acquiring any vested right to receive interest-Notional amount not assessable. [S. 4, 145]