S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contribution to Turf Authorities of India for conducting an event-Meet expenditure-Not liable to deduct tax at source-Subsidies to promote horse racing-Failure to mention which section of TDS provision is applicable-Addition was deleted.
S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Advertisement services-Payment to Irish company-No Permanent Establishment in India-Not liable to deduct tax at source-DTAA-India-Irish. [S. 9(1)(i), 195, Art. 7]
S. 37(1) : Business expenditure-Carrying on of business-No business activities during the year-Matter remanded.
S. 37(1) : Business expenditure-Loss on account of exchange difference-Allowable as deduction. [S. 28(i)]
S. 37(1) : Business expenditure-Pre-operative expenses-Capital or revenue-Business of hotels, motels, catering etc.-Setting up business-Salaries and allowances to experts-Allowable as business expenditure.
S. 37(1) : Business expenditure-Fees-ROC-Capital or revenue-Debt restructuring-Increase in authorised capital and annual remuneration paid to monitoring institution under CDR-Allowable as revenue expenditure.
S. 37(1) : Business expenditure-Contribution to Temple, Panchayat-Allowable as business expenditure. [S. 80G]
S. 36(1)(viii) : Eligible business-Special reserve-Eligible profits-Interest income from Government securities-Apportionment of other income-Matter remanded for verification.
S. 36(1)(iii) : Interest on borrowed capital-Real estate construction-Method of accounting-Percentage completion method-Stock in trade-Work in progress-Allowable as deduction. [S. 145]
S. 32 : Depreciation-Motor car-Not maintained log book for usage-Personal use-Disallowance of 20% of depreciation is affirmed. [S. 38(2)]