S. 36(1)(iii): Interest on borrowed capital-Commercial expediency-Interest allowed in earlier year-The principle of commercial expediency applied mutatis mutandis to the corresponding portion, and such disallowance was not warranted.[S. 251]

S. 35AC: Expenditure on eligible projects or schemes-Donations-Had valid approval at the time of payment-Information from Investigation wing-No evidence that donation was bogus or returned cash-Subsequent withdrawal of approval or cancellation of registration under section 12AA(3) could not justify disallowance of deduction under section 35AC of the Act. [S.12AA(3), 35AC(6), 131, 132, 143(3),147, 148]

S. 35 : Expenditure on scientific research-Business expenditure on in-house R&D facility-Claimed weighted deducted-AO denied as Form 3CL was missing-Held, post amendment, Form 3CL is a requisite for claiming deduction under S. 35(2AB)-Not entitled to deduction. [S.35(2AB]

S. 35: Expenditure on scientific research-Entitled to claim deduction under S. 35(2AB) even in respect of expenditure incurred prior to approval date, i.e. from 1-4-2019.[S.35(2AB]

S. 35: Expenditure on scientific research-Business expenditure-Withdrew higher claim-Entitled to 100% deduction of revenue expenses under section 35(1)(i) and depreciation on R&D assets under section 32(1).[S. 32(1), 35(1)(i), 35(2AB), 43(4), Form 3CL]

S. 35: Expenditure on scientific research-Approval was granted by DSIR during the previous year-Entitled to claim weighted deduction in respect of entire expenditure incurred under section 35(2AB)[S.35(2AB)]

S. 32: Depreciation-Goodwill-Slump sale-Tangible Assets-Entitled to claim depreciation. [S. 2(42C),32(1)(ii) 50B]

S. 32: Depreciation-Amalgamation-Goodwill-Excess of consideration over net assets-Depreciation on goodwill allowable.

S.32: Depreciation-Amalgamation-Depreciation on goodwill-Matter was remanded to the file of CIT(A) for consideration afresh.[S. 32(1)]

S. 28(v): Business income-Partner-Interest, salary, bonus, remuneration-Chartered accountant-Depreciation-Business expenditure-Any expenditure incurred wholly and exclusively for earning such income, including depreciation, is allowable under sections 32 and 37 [S. 32, 37(1)]