S. 37(1) : Business expenditure-Corporate Social Responsibility-Special Leave Petition Dismissed on facts-Leaving Question Of Law Open. [Art. 136]

S. 36(1)(vii) :Bad debt-Amounts should be actually written off in profit and loss account-Allowable as deduction.

S. 32 : Depreciation-Claimed depreciation in accordance with Appendix I-No substantial question of law. [ITR. 5(1), 5(1)(IA)]

S.28(i): Business loss-Derivative contracts-Foreign Exchange fluctuations-Allowable as business loss.[S. 37(1)]

S.14A : Disallowance of expenditure-Exempt income-No reasons recorded-Order of Tribunal is affirmed.[R. 8D]

S. 12AA : Procedure for registration-Trust or institution-Condonation of delay-Application was rejected-Denial of exemption is justified-SLP rejected. [S. 260A]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty-Fees for technical services-Business profits not taxable in India – DTAA-India – Malaysia [S.9(1)(vii), 90(2) art. 5, 7, Copyright Act, 1957, S. 14(a), 14(b)]

S. 4 : Charge of income-tax-Diversion of income by overriding title-Amounts transferred to statutory reserve fund-Amounts received and then transferred-No diversion of income by overriding title.[S. 145]

S. 147 : Reassessment – After the expiry of four years – Bogus purchases and sales – Accommodation entries -Information from DDI (Inv) – Cross examination – Denied giving accommodation entries – Reassessment order is quashed ,[ S.69C , 148]

S. 2(14)(iii): Capital asset – agricultural land – land situated within the jurisdiction of municipality limit – Chargeable to capital gain tax. [ S. 2(14)(iii)(a), 2(14)(iii)(b), 45 ]