S. 35D : Amortisation of preliminary expenses-Inconsistency in manner of claiming expenditure-Deduction of the fresh expenditure allowable only as per S.35D of the Act .

S. 32 : Depreciation-Voice recording software licences-Entitled to Sixty Per Cent.

S. 28(i) : Business loss-Foreign exchange fluctuation exchange rates -Loans were not used for import of capital goods-Loss allowable as business loss. [S. 37(i)]

S. 14A : Disallowance of expenditure-Exempt income-Assessing Officer should examine correctness of claim that no expenses were incurred after making reference to Account-Without recording the dissatisfaction no disallowance can be made. [S. 10(34), R.8D ]

S. 14A : Disallowance of expenditure-Exempt income-No satisfaction recorded- Disallowance not sustainable. [R. 8D(2)(ii)]

S. 12AA : Procedure for registration-rust or institution-Delay of 158 days in filing the appeal was condoned-Documents which was not produced before the CIT(E) was produced before the Appellate Tribunal-Matter remanded. [S. 12AA, 80G, 253, 254(1)]

S. 10B : Export oriented undertakings-Sale of scrap-Entitled to deduction.

S. 4 : Charge of income-tax-Sales tax subsidy-For enabling to expand or modernize its existing unit-A capital receipt not taxable.

S. 271B :Penalty- Failure to get accounts audited -Reasonable cause – May – Levy of penalty is held go be not justified .

S. 271(1)(c) : Penalty – Concealment – Disallowance of expenses on estimate basis – Capital or revenue –Debatable issue – Levy of penalty is not justified – Disallowance was deleted -Levy of penalty is not justified . [ S.14A ]