S. 40(a)(ia): Amounts not deductible-Deduction at source-Making Provision for expenses at end of accounting year-No tax deducted at source-Deducting tax at source in subsequent year and depositing it before due date for filing of return of income.[S.139(1)]
S. 40(a)(ia): Amounts not deductible-Deduction at source-Interest-Payment of deposits-Disallowance of 30 per cent of interest-Deductees have already filed return and paid tax-Matter remanded. [S.194A, 197, Form 15 G, 15H]
S 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Commission-Procurement of orders overseas-No disallowance can be made for failure to deduct tax at source.[S. 5,9(1)(vii),195]
S. 37(1):Business expenditure-Diversion of income by overriding title-Payment made to sister concerns not out of its own discretion but made due to obligation arising out of agreement-Claim revenue neutral because assessee claimed sum as business expenditure and recipients of that sum had offered it, in aggregate, as income-Adding it in hands of assessee would be double addition-Expenditure allowable. [S. 4]
S.37(1): Business expenditure-Employees’ Stock Option Scheme Expenses-Disallowance is deleted.
S.37(1): Business expenditure-Corporate Social Responsibility expenses-Disallowance is justified-Qualified Institutional placement expenses-Matter remanded. [Companies Act, 2013, S.135]
S.37(1): Business expenditure-Employees stock option plan compensation expenses-Allowable as deduction.
S.37(1): Business expenditure-Prior-period expenses-Annual technical service fees-Addition is not justified-Employees Stock option plan-Matter remanded to the file of the Assessing Officer.
[S. 145]
S. 36(1)(vii) :Bad debt-Provision for bad debts-Bad debts written Off-Bad debts written off relating to non-rural advances is not required to be adjusted against provision for bad and doubtful debts allowed under Section 36(1)(viia)-Excess provision matter remanded. [S.36(1)viia)]
S. 32 : Depreciation-A Non-Banking Finance Company-Investments-Different method of accounting-Securities as per Reserve Bank of India norms-Disallowance of depreciation is deleted-Automated teller machine-Akin To Computer and computer software-Depreciation allowable at 60 Per Cent. [S. 145]