S. 43B: Interest tax liability for AYs:1993-94 to 1997-98 arose to assessee during relevant assessment year 2018-19 by way of order giving effect to order of High Court – liability was discharged by assessee during relevant year allowable as business expenditure. [ S. 37( 1) ]

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits -Business expediency – If the payment is necessary for business operations and is not made with fraudulent intent, disallowance u/s. 40A(3) may not be required, even if the payment exceeds the prescribed limit.

S. 40(a)(ia): Amounts not deductible – Deduction at source – Books of Accounts rejected – Separate addition under 40(a)(ia) not valid.
Disputed income under litigation – Shown as other income – Cannot be included in turnover when books are rejected- Income does not accrue until litigation is finally terminated, especially if liability is not admitted by the other party. [ S. 4, 5 , 144 145 ]

S. 40(a)(ia): Amounts not deductible – Deduction at source –
Interest, etc., paid to a resident without deduction of tax at source -Non-furnishing of Form 15G/15H – Form filed before the Tribunal – Matter remanded to the Assessing Officer for limited purpose of verification. [ Form 15G , 15H ]

S. 40(a)(i) : Amounts not deductible – Deduction at source -Non-resident –Depreciation- Fixed asset -Capitalised the expenditure – Disallowance is deleted . [ S. 32 ]

S.37(1): Business expenditure – Club membership fees -Allowable as business expenditure . [ Form 3CD ]

S. 36(1)(va): Any sum received from employees – Assessee maintain separate books for PF contributions – Credited it on real time basis – Deduction cannot be denied – NPS contributions not deposited within the due date of filing of Return – Cannot be claimed as a deduction in that year.[ S. 2(24)(x) ]

S. 28(iv) : Business income – Value of any benefit or perquisites – Converted in to money or not – Acquisition of shares at face value when other paid premium – A capital transaction – Outside the purview of S. 28(iv).[ S. 56(2)(x) ]

S. 28(iv) : Business income – Value of any benefit or perquisites – Converted in to money or not – No benefit or perquisite is chargeable to tax under section 28(iv) for assets received from AEs on a returnable basis- Independent personal services – Training expenses paid to non-resident fell under Article 14 of the DTAA and not subject to TDS- DTAA -India -Singapore . [ Art. 14 ]

S .14A : Disallowance of expenditure – Exempt income – Investment in partnership firm – Interest paid on the overdraft facility, which was obtained for business activities, should not have been disallowed, as it was not directly related to the exempt share income from the partnership firm.[ S.10(2A), R.8D(2)(iii) ]