S. 40(a)(i) : Amounts not deductible – Deduction at source -Non-resident -Reimbursement of salary cost- No disallowance can be made [ S.192 , 195 ]

S. 38 : Building – Partly used for business -Business income — Income from house property — Entitled to proportionate deduction for remaining period of seven months of repairs and maintenance [ S. 22, 38(2)]

S. 37(1) : Business expenditure — Motor car, conveyance and miscellaneous expenses — Ad hoc disallowance- Books of account not rejected – Disallowance is held to be not justified [ S.145 ]

S. 37(1) : Business expenditure — Motor car, conveyance and miscellaneous expenses — Ad hoc disallowance- Books of account not rejected – Disallowance is held to be not justified [ S.145 ]

S.37(1): Business expenditure -Capital or revenue – Expenses for upgradation and renewal of existing software — Revenue Expenditure.

S. 32 : Depreciation -Satellite Television Channels — Brand Licence Fees — Entitle to depreciation .

S.32: Depreciation —Computer accessories and peripherals integral part of computer system — Entitled to depreciation at sixty per cent.

S.28(i) : Business loss- Foreign exchange forward contracts to safeguard against losses due to fluctuation in foreign currency —Not speculative activity but business activity [ S.37 (1) ]

S.14A : Disallowance of expenditure – Exempt income -Investments in past years — Reserves and surpluses far in excess of investments No disallowance could be made [ R.8D (2)(ii)]

S. 14A : Disallowance of expenditure – Exempt income – Investments far below reserves and surpluses — Presumption that invested out of reserves and surpluses — No disallowance shown -Disallowance to the extent of Rs. 1,17,760 was sustained. [ R.8D( 2)(ii) , 2(iii) ]