S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Interest-Royalty-Fes for technical services-Foreign remittances Failure to file Forms 15CA and 15CBB-Reimbursement of expenses-Disallowance is not justified . [ S. 195 , Forms, 15CA, 15CB ]

S. 37(1) : Business expenditure-Setting up of business Commencement of business-Once the business is set up expenditure is fully allowable subject to verification that assessee had not claimed depreciation thereon and expenditure not claimed in any other year-Payment for expenses against corporate cards given to managerial personnel-Bills not received and expense written off as bad debts-Allowable as business expenditure. [S. 28(i), 32, 35D, 36(1)(vii), 145]

S. 37(1) : Business expenditure-Employees’ Stock option expenses-Allowable as deduction-Donations to charitable institutions-Corporate Social Responsibility expenses-Allowable under section 8OG ]

S. 37(1) : Business expenditure-Capital or revenue Loan processing charges paid to bank-Loan utilised for business purposes-One-time payment-Not capital expenditure.

S. 37(1) : Business expenditure-Business as travel agent, tour operator and foreign exchange dealer-Expenditure on video shooting of tourist locations for business purposes-Capitalised in books of account-Allowable as revenue expenditure-Expenses on issue of non-convertible debentures capitalised in books and Not debited to profit and loss account-Debentures issued for meeting working capital requirements-Disallowance to extent of proceeds from debentures used as capital expenditure and allowing balance expenditure is held to be proper.[ S. 145 ]

S. 37(1) : Business expenditure-Capital or revenue-Infrastructure development expenses-Agreement to maintain common facilities and amenities outside property of assessee-Allowable as revenue expenditure even though advantage may endure for indefinite time-Foreign currency fluctuation-No disallowance can be made-Miscellaneous expenses-A corporate entity and Ad hoc disallowance of expenditure is not permissible without pointing out specific defect-Legal expenses for acquisition of plant-Charges towards drafting agreements, resolutions and rendering legal consultancy services relating to plant acquisition-Professional services-Allowable as revenue expenditure. [S. 43A]

S. 37(1) : Business expenditure-The principle of commercial expediency cannot be ignored and must be judged in the context of current socio-economic thinking-Transfer Pricing-Objections raised by Dispute Resolution Panel met by assessee with cogent reasons-Transfer pricing adjustment is not called for. [S. 92C]

S. 32 : Depreciation-Rate of depreciation-Computer accessories and peripherals-Entitled to depreciation at higher rate applicable to computers.

S. 28(i) : Business income-Value of any benefit or perquisites-Converted in to money or not-Profits chargeable to tax-Remission or cessation of trading liability-Settlement of borrowings at lower amount than due-Constitutes waiver of loan-Borrowing and lending not business of assessee-No trading liability-No benefit or perquisite other than in shape of money-Difference between amount due and amount of settlement is not taxable. [S. 28(iv), 41(1)]

S .14A: Disallowance of expenditure-Exempt income-No dividend income received during year and no exemption claimed-Disallowance not sustainable-Amendment by Finance Act, 2022 . R.8D ]