S. 37(1) : Business expenditure-Capital or revenue-Software development-Allowable as revenue expenditure-SLP of Revenue expenditure.[Art. 136]

S. 36(1)(iii) : Interest on borrowed capital-Own interest free funds-Order of Tribunal deleting the disallowance is affirmed.[S.260A]

S. 36(1)(iii) : Interest on borrowed capital-Own interest free funds-Order of High Court affirming the order of the Tribunal is up held-SLP of Revenue is dismissed.[Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made.[S. 260A, R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made.[S. 260A,R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made-Delay of 340 days-SLP of Revenue is dismissed on account of delay in filing of SLP-Question of law, if any is kept open. [R.8D, Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made-Order of High Court is affirmed-SLP of Revenue is dismissed. [R. 8D, Art.136]

S. 14A : Disallowance of expenditure-Exempt income-Borrowed capitals-Investing in shares to earn income from dividend-Expenditure incurred on interest paid on borrowed funds is not allowable as deduction-SLP of assessee is dismissed [S.10(33), 36(1)(iii), Art. 136]

S. 11 : Property held for charitable purposes-Donations other charitable institutions-Out of accumulated income-Direction as part of corpus donations-Not hit by Explanation 2 to section 11(1) of the Act. [S.11(1), 11(2), 11(3), 11(3)(d), 260A]

S. 10A : Free trade zone-Rental income-Sub lease of two units-Eligible for inclusion in profit as they were intimately connected with business of undertakings-SLP of Revenue is dismissed. [Art. 136]