S. 36(1)(iii) : Interest on borrowed capital-Advance given to subsidiary or sister concern-Share capital reserves and surplus available-Disallowance of interest was deleted.

S. 32AC : Investment in new plant or machinery-Acquired before 31st March, 2017-Not required to put to use-Deduction allowed.

S. 32 : Depreciation-Intangible Assets-Acquired from business transfer agreement-Depreciation allowable on the basis of valuation report. [S. 32(1)(ii)]

S. 32 : Depreciation-Installation of asset-Considered as asset has been put to use-Entitle to depreciation-UPS is to be considered as an integral part of the computers and depreciation is to be allowed @ 60%.

S. 28(i) : Business loss-Commercial expediency-loss caused as a result of fraud, embezzlement by employees was allowed as business loss. [S. 37(1)]

S. 28(1) : Business loss-losses incurred due to surrender of NLD certificate-Allowable as normal business loss. [S. 37(1)]

S. 28(i) : Business income-Income from house property-Rule of consistency-No justifiable reasons to change income head-Income continued to be assessed under the head of business income. [S. 22]

S. 23 : Income from house property-Annual value-No rental income-Security deposits to be adjusted for old outstanding-If amount excess remains then current assessment year outstanding to be adjusted. [S. 22]

S. 23 : Income from house property-Annual value-Unsold flats-Stock-in-trade-Before the insertion of S. 23(5)-Addition is held to be not valid. [S. 22, 23(5)]

S. 14A : Disallowance of expenditure-Exempt income-No exempt income-No disallowance can be made. [R. 8D]