S. 37(1) : Business expenditure-Bogus purchases-Failure to fie quantitative details-Matter remanded to Assessing Officer to give an opportunity of cross examination and to file quantity details.

S. 37(1) : Business expenditure-Management support services-Valuation of stock-cost or net realisable value-Sales promotion expenses-Allowable as deduction. [S. 145]

S. 28(i) : Business loss-Sales return-Allowable as business loss-Failure to challenge the revision order is not a bar for filing an appeal against the order passed pursuant of revision. [S. 250, 263, 254(1)]

S. 14A : Disallowance of expenditure-Exempt income-Investment made from own funds-Interest cannot be disallowed-Matter remanded-Disallowance cannot exceed exempt income. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income-Investment from own funds-No disallowance can be made. [R. 8D]

S. 11 : Property held for charitable purposes-Development of minor ports in its State-Entitled to exemption. [S. 2(15)]

S. 10B : Export oriented undertakings-Interest income-Matter remanded. [S. 10B(4)]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Non-resident-Receipt of software licence fees from group entity in India-Receipt in nature of reimbursement-Not taxable-Payment received for Information Technology Services-Not taxable-DTAA-India-Sweden. [Art. 12]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Non-Resident-Leadership training provided to employees of group company-Training fees cannot be assessed as fees for technical services-As there is no permanent establishment in Income cannot be assessed-DTAA-India-Sweden. [Art. 5, 7, 12(b)]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Non-resident-Consideration from sale of licensed software-Receipts on sale of Copyright article not taxable in hands of assessee DTAA-India-Singapore. [Art. 12 (3)]