S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident Fes for technical services-Technical/consultancy services from three non-resident entities against certain fee-Not fees for technical services-Not liable to deduct tax at source-DTAA-India-Singapore. [S. 9(1)(vii), Art. 12(4)]

S. 37(1) : Business expenditure-Method of accounting-Cash system-Tax Deduction at source payables-Paid on due date-Disallowance is not justified. [S. 145]

S. 37(1) : Business expenditure-Commission-Matching principle-Under agreement Commission shall accrue as and when sales finalised-Claim is allowable when sales are accounted. [S. 145]

S. 37(1) : Business expenditure-Additional wages paid in terms of Notification of Central Government-Allowable as deduction, though the payment was made in subsequent year. [S. 145]

S. 37(1) : Business expenditure-Capital or revenue-Expenditure related to stock-in-trade to be allowed as revenue expenditure. [S. 2(14)(i)]

S. 37(1) : Business expenditure-Ad hoc basis-Expenses relating to Telephone, Mobile, Vehicle Running and maintenance and depreciation on car-Lump sum disallowance of Rs. 20,000 purely on an ad hoc basis-Not sustainable.

S. 37(1) : Business expenditure-Ad-hoc disallowance of 20 percent of expenses-Not sustainable.

S. 37(1) : Business expenditure-Capital or revenue-Conversion of debentures in to equity shares-Documents and stamp charges on conversion-Capital expenditure-Provision of section 35D is not applicable allowance of expenditure incurred after commencement of business. [S. 35D]

S. 37(1) : Business expenditure-Capital or revenue expenditure-Tenancy agreement-Stamp duty and registration charges-Allowable as revenue expenditure.

S. 37(1) : Business expenditure-Capital or revenue expenditure-Expenditure incurred on buy back of shares-Allowable as revenue expenditure.