S.37(1): Business expenditure-Capital or revenue-Amounts paid as royalty to parent company for use of its trademark-Allowable as revenue expenditure-Employees stock option-Allowable as revenue expenditure-Interest on excess refund is not deductible.[S.143(1)

S. 37(1): Business expenditure-Loss on account of fluctuation in rate of foreign exchange-Derivative contracts-Hedge against exchange risk in respect of export proceeds receivable in foreign exchange-Loss is allowable-Special leave petition dismissed.[S. 28(i) Art. 136]

S. 37(1) : Business expenditure-Corporate Social Responsibility-Special Leave Petition Dismissed on facts-Leaving Question Of Law Open. [Art. 136]

S. 36(1)(vii) :Bad debt-Amounts should be actually written off in profit and loss account-Allowable as deduction.

S. 32 : Depreciation-Claimed depreciation in accordance with Appendix I-No substantial question of law. [ITR. 5(1), 5(1)(IA)]

S.28(i): Business loss-Derivative contracts-Foreign Exchange fluctuations-Allowable as business loss.[S. 37(1)]

S.14A : Disallowance of expenditure-Exempt income-No reasons recorded-Order of Tribunal is affirmed.[R. 8D]

S. 12AA : Procedure for registration-Trust or institution-Condonation of delay-Application was rejected-Denial of exemption is justified-SLP rejected. [S. 260A]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty-Fees for technical services-Business profits not taxable in India – DTAA-India – Malaysia [S.9(1)(vii), 90(2) art. 5, 7, Copyright Act, 1957, S. 14(a), 14(b)]

S. 4 : Charge of income-tax-Diversion of income by overriding title-Amounts transferred to statutory reserve fund-Amounts received and then transferred-No diversion of income by overriding title.[S. 145]