S. 36(1)(vii) : Bad debt-Amount written off in accounts-Allowable as deduction-Res Judicata-Not Applicable-Principle of consistency is applicable. [S. 36(2)]

S. 32 : Depreciation-Finance lease-Lessor of assets leased in course of leasing business-Depreciation allowable.

S. 28(i) : Business loss-Chit business-Bid loss-Mercantile system of accounting-Remanded to the Assessing Officer. [S. 37(1), 145]

S. 14A : Disallowance of expenditure-Exempt income-Investment in subsidiary companies-When there is no exempt income-No disallowance can be made. [R. 8D]

S. 12A : Registration-Trust or institution-Trust deed amended and registration granted with effect from 1-4-2015-Application filed on 23-02 2016-Registration would not have retrospective effect and be applicable from assessment Year 2013-14.

S. 10B : Export oriented undertakings-Manufacture or Processing-Marine product-Pasteurized crab meat-Processing and exporting of Crab meat-Remanded to the Assessing Officer to examine the nature of activity. [S. 10B(2)(ii), 10B(2)(iii), 80IB(11A) Special Economic Zone Act, 2005, S. 2(r)]

S. 10B : Export oriented undertakings-Manufacture-Conversion of crude ore into iron ore concentrate fines amounts to manufacture-Entitle to benefit. [S. 2(29BA)]

S. 10B : Export oriented undertakings-Formed not by reconstruction-Entitle to exemption-Enhancement of claim during assessment proceedings-Direction of Tribunal is held to be justified- Deemed dividend-No accumulated profits- Deletion of addition is held to be justified. [S. 2(22)(e), 254(1)]

S. 10(10D) : Life insurance policy-Keyman insurance policy-Assignment of policy to employee-Amount received by employee on surrender or encashment taxable as perquisite. [S. 17(2)]

S. 10(10) : Gratuity-Increase in ceiling by amendment of payment of Gratuity Act with effect from March 29, 2018-Amendment not violative of provisions of constitution-Provision not applicable with retrospective effect. [S. 10(10)(ii), Payment of Gratuity Act, 1972, S 4(3), Art. 14, 226]