S. 43(5) : Speculative transaction-Transactions in derivatives and share trading-Loss not from speculative business-Set-Off to be allowed. [S. 72]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Filing certificate before the Tribunal certificate of Chartered Accountant stating that recipient had filled return including the amount received-Matter remanded for verification. [S. 194A, 201(1)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Acquisition of software-Treated as capital expenditure-Failure to deduct tax at source-No disallowance can be made.

S. 40(a)(i) : Amounts not deductible-Deduction at source-Purchase of computer-Not royalty-Not liable to deduct tax at source. [S. 9(1))(vi), 195]

S. 37(1) : Business expenditure-Capital or revenue-Repair and renovation of leased premises-Allowable as revenue expenditure-Ex-gratia payment-Matter remanded. [ S. 43B]

S. 37(1) : Business expenditure-Computer expense-Ad hoc basis-Without pointing out any defects, ad hoc disallowance was held to be not justified.

S. 37(1) : Business expenditure-Upfront fee-Term loan for acquiring fixed asset-Interest on loan taken on equipment-Allowable as revenue expenditure.

S. 36(1)(vii) : Bad debt-Co-Operative Bank-Fixed deposit with another Bank-Liquidation-Amount written off-Allowable as bad debt.

S. 36(1)(va) : Any sum received from employees-Cheque deposited before due date-Cheque cleared after due date-Relevant date is date of deposit of cheque-Allowable deduction.

S. 35 : Scientific research expenditure-Research and development facility was approved by the DSIR-Entitle to weighted deduction. [S. 35(2AB)]