S. 28(i) : Business income-Income from other sources-Income earned from FDs out of cash credit limits for securing contracts-Part of business income-Miscellaneous income from sale of scrap-Additions unjustified. [S. 56]

S. 28(i) : Business income-Accrual of income-Advance received for services to be rendered in subsequent years-AO taxed in current year-CIT(A) allowing 10% to be treated in subsequent year-Addition to be deleted.[S. 5, 145]

S. 22 : Income from house property-No change in facts-Cannot be treated as income from business and profession.[S. 28(i)]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income-AO is directed to restrict disallowance accordingly. [R. 8D]

S.14A : Disallowance of expenditure-Exempt income-Book profits-Disallowance cannot be added to book profits. [S.115JB]

S. 14A : Disallowance of expenditure-Exempt income-Vague and stereotyped reasons for making disallowance-No satisfaction recorded-Disallowance to be reversed.[R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Absence of exempt income-Disallowance to be deleted. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance to be limited to the quantum of exempt income earned-Amendment disallowing irrespective assessee is in receipt of exempt income is prospective. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Own funds available to cover investments-Presumption-Own funds are used-Interest expense-Cannot be disallowed-Disallowance can be made only in respect of investment which yielded dividend income. [R. 8D]

S.14A : Disallowance of expenditure-Exempt income-No exempt income earned-Disallowance not warranted. [R. 8D]