S. 32 : Depreciation-Beneficial owner-Car registered in the name of Director-Depreciation, TRO expenses and insurance chrges are allowable as business expenditure. [S. 37(1)]

S. 32 : Depreciation-School buses-Additional depreciation is not available.

S. 32 : Depreciation-Leased assets-Entitled depreciation.

S. 32 : Depreciation-Building on lease-Expenditure on construction of building-Capital expenditure-Explanation 1 to section 32(1). [S. 30, 37(1)]

S.14A : Disallowance of expenditure-Exempt income-No exempt income earned during the year-No disallowance can be made-When no disallowance is made addition cannot be made to book profi.t [S. 115JB, R. 8D]

S. 12AA : Procedure for registration-Trust or institution-Required to examine genuineness of institution-Denial of registration on the ground of profit was generated was not valid. [S. 2(15)]

S. 12A : Registration-Trust or institution-Bogus donation-Cancellation of registration was set aside. [S. 12AA(3)]

S. 10A : Free trade zone-Set-off losses of STP/SEZ unit against income of non-STP units-Allowed to be set off-Export turnover-Deemed export, reimbursement of expenses, expenses incurred in foreign currency, delayed export proceeds and VAT/GST would form part of export turnover-Corporate office expenses-Allowed on ad hoc percentage of 20 percent and not based on turnover of various undertakings for purpose of deductions under section 10A.[S. 80IB, 80IC]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Providing access to computer software to Indian comoany-Not royalty-Not liable to be taxed in India-DTAA-India-UK. [Art. 13, Copy right Act, 1957, S. 14, Art. 226]

S. 4 : Charge of income-tax-Interest-Interest accrued had to be utilized only for purpose of scheme-Not assessable as revenue receipt.