S. 37(1) : Business expenditure-Expenditure is not substantiated with valid vouchers-Disallowance is affirmed.

S. 37(1) : Business expenditure-Capital or revenue-Application software-Net working with 125 branches-Allowable as revenue expenditure.

S. 37(1) : Business expenditure-Post-production expenses of feature film-Producer and distributor-Allowable as business expenditure-Rule 9A or Rule 9B is not applicable. Reassessment on change of opinion is bad in law-Resale of set material-Estimated at 5 per cent of total cost incurred on such set materials. [S. 143(3), 147, 148 Rule, 9A, 9B]

S. 37(1) : Business expenditure-Entertainment expenses Disallowance was restricted to 10%-Held to be proper-Transfer pricing adjustment deleted by the CIT(A) was affirmed [S. 92C]

S. 37(1) : Business expenditure-Finance lease-Reclassified and claimed as deduction-Absence of details not allowed as deduction.

S. 37(1) : Business expenditure-Taxes paid abroad-Taxes for which no benefit of foreign tax credit has been allowed-Allowable as deduction. [S. 40(a)(ii), 90, 91]

S. 37(1) : Business expenditure-Medical check-up provision for charges payable to hospitals-Matter remanded for verification-Escrow Disbursement Provision for incentive payable to distributors-The deduction for the incentive commission is to be allowed the package was sold as reduced by the payments made in respect of the on actual payment basis in the concerned year irrespective of the year in which packages sold in the earlier years. [S. 145]

S. 37(1) : Business expenditure-Capital or revenue-Documents and stamp charges on conversion of debentures into equity shares-Capital expenditure-Alternative claim under section 35D is also rejected. [S. 35D]

S. 37(1) : Business expenditure-Excess interest charged by Bank-Not allowable as deduction-Disallowance was restricted to the extent of the amount claimed as deduction during the year.-Corporate guarantee commission allowable as deduction.

S. 37(1): Business expenditure-Provision for expenses on periodic overlay of BOT road-Ascertained liability-Any addition made towards such provision would enhance the taxable profit which is eligible for deduction under S 80IA(4)(i)-A revenue neutral exercise-Allowable as deduction.[S.80IA(4)(i)]