S. 37(1) : Business expenditure-Capital or revenue-Repair and renovation of leased premises-Allowable as revenue expenditure-Ex-gratia payment-Matter remanded. [ S. 43B]

S. 37(1) : Business expenditure-Computer expense-Ad hoc basis-Without pointing out any defects, ad hoc disallowance was held to be not justified.

S. 37(1) : Business expenditure-Upfront fee-Term loan for acquiring fixed asset-Interest on loan taken on equipment-Allowable as revenue expenditure.

S. 36(1)(vii) : Bad debt-Co-Operative Bank-Fixed deposit with another Bank-Liquidation-Amount written off-Allowable as bad debt.

S. 36(1)(va) : Any sum received from employees-Cheque deposited before due date-Cheque cleared after due date-Relevant date is date of deposit of cheque-Allowable deduction.

S. 35 : Scientific research expenditure-Research and development facility was approved by the DSIR-Entitle to weighted deduction. [S. 35(2AB)]

S. 32 : Depreciation-Goodwill-Non-compete payment-Technical knowhow and other assets-Eligible for depreciation. [S. 32 (1)(ii)]

S. 32 : Depreciation-Sale-cum-lease back transaction-Entitle to depreciation. [S. 43(1)]

S. 28(i) : Business loss-Foreign exchange loss-No depreciable assets-Allowable as revenue expenditure-Foreign exchange gain to be assessed as business income.

S. 28(i) : Business loss-Speculation Loss-Loss on purchase of commodities on National Spot Exchange for which delivery receipts issued but not delivered-Allowable as business loss-Unsettled contract of purchase or sale is not speculative transaction. [S. 43(5)]