S. 40(a)(ia) : Amounts not deductible-Deduction at source-Export of computer software-Disallowance would increase profits of business eligible for deduction-Validity of initiation of reassessment proceedings not adjudicated. [S. 10A, 10AA, 147, 148, 195]
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Freight payment to Transporters-Each goods receipt below prescribed limit-Not liable to deduct tax at source. [S. 194C]
S. 37(1) : Business expenditure-Corporate social responsibility-Payments made to church, Police station, summits, Schools, Etc. are cannot be considered as corporate social responsibility-Disallowance is proper. Not Been Spent On Corporate Social Responsibility.
S. 37(1) : Business expenditure-Failure to furnish C Forms-Disallowance-Payment For Violation Of Law-Sales Tax On Inter-Delay in depositing Sales Tax, Excise and Customs duty and Service Tax-Differential amount deposited with interest-Not penalty-Allowable as revenue expenditure. [Central Sales Tax Act, 1956]
S. 36(1)(iii) : Interest on borrowed capital-Investment Company-Acquisition of shares-Interest directly attributable-Capitalised.
S. 35D : Amortisation of preliminary expenses-Fees for registering Company-One-Fifth of Expenditure-Expenses incurred before commencement of business eligible for deduction.
S. 32AC : Investment in new pant or machinery-Generation of power amounts to manufacture or production of goods-Eligible for allowance.
S. 32 : Depreciation-Additional depreciation-Business of mining iron ore and sale thereof-Entitled to additional depreciation-Putting new assets to use for less than 180 days in previous year-Allowed 50 Per Cent. of eligible additional depreciation-Amendment allowing carry-over to subsequent year applicable prospectively from 1-4-2016-Not entitled to 50 Per Cent. of additional depreciation brought forward from earlier assessment year. [S. 32(i)(iia)]
S. 32 : Depreciation-Intangible assets-Customer list and goodwill-Entitle for depreciation. [S. 32(1)(ii)]
S. 14A : Disallowance of expenditure-Exempt income-Own funds excess of investments-No disallowance can be made. [R. 8D]