S. 35: Expenditure on scientific research-Approval by prescribed authority-The deduction as claimed by the assessee under s. 35(2AB) is to be allowed-Prior to the amendment of R. 6, the provision of S 35(3) did not provide for referring to DSIR for determining the amount of expenditure eligible for deduction. [S.35(2AB), 35(3), R.6 (7A)]

S. 32AC: Investment in new plant or machinery-Computers used in the business of development of computer software-Eligible for investment allowance-Remanded for verification.

S. 32: Depreciation-Additional depreciation-Computers used for the production of software-Plant and machinery-Eligible for additional depreciation. [S. 32(1)(iia)]

S. 32: Depreciation-Actual cost-Sales-tax subsidy-subsidy is to be deducted from the cost of fixed assets for the purpose of depreciation computation as per Expln 10 to s. 43(1).[S.43(1)]

S.28(i): Business income-Income from house property-Income from renting out house properties to tourists and pilgrims on a day-to-day basis-Assessable as business income-Depreciation is allowable. [S. 22, 24(a), 32(1(ii)]

S.14A: Disallowance of expenditure-Exempt income-Interest expenditure-Disallowance has to be computed at 0.5 per cent of investments which have actually yielded exempt income during the year and not the average of investments as appearing in the balance sheet of the assessee.[R.8D(2)(iii)]

S.14A: Disallowance of expenditure-Exempt income-Shipping business-Tonnage tax scheme-Disallowance under S. 14A cannot be made in the case of the assessee, which is subject to tax under Chapter XII-G.[S.115VA]

S. 12AB: Procedure for fresh registration-Wrong mentioning of religious-cum-charitable in the Form No.10AB-Rejection of application was set aside-CIT(E) is also directed to examine the grant of approval under s. 80G after deciding the application for grant of registration under s. 12AB. [S.80G]

S. 12AB: Procedure for fresh registration-Trust for the benefit of residents of a particular housing society-Denial of registration was affirmed. [S.11, 12, 12AB(4), 13(1(b)]

S. 11: Property held for charitable purposes-contribution of Rs. 50,000 to the trustees of ABET for creating that trust-Not specified person-Lease rent paid by the assessee for a building which was provided free of charge to ABET to enable it to start a school-No disallowance can be made.-Income from house property-Deduction is not allowable-Method of accounting-Cash system-Interest income-Addition on account of interest accrued and not received was deleted. [S. 13(2)(a), 13(2(b), 13(2)(g), 24(a), 145]