S. 45 : Capital gains-Long-term capital gains-Merely on the basis of Audit report addition cannot be made. [S.143(1)]

S. 43B : Deductions on actual payment-Electricity company-Electricity duty and tax on sale of electricity adjusted by Government against Government subsidy after close of accounting year-Deduction is to be allowed in year payment is made-Matter is remanded.

S. 40(a)(ia): Amounts not deductible-Deduction at source-Remittances to foreign university of fees collected from students for conduct of examinations-No disallowance can be made-DTAA India-UK [S. 9(1), Expl 2,195 Art. 13(5)(c)]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Royalty-Fes for technical services-Payments for telecommunications services to associated enterprises is not Royalty or fees for technical services-Not liable to deduct tax at source-DTAA-India-USA [S. 9(1)(vi), 9(1)(vii), 195, Art. 12]

S. 37(1) : Business expenditure-Disallowance for inflated purchases-Self-made vouchers not containing any details such as names of supplier or mode of payment-Disallowance is affirmed.

S.37(1): Business expenditure-Capital or revenue-Contribution to corpus fund of International Solar alliance for awards and prizes-Allowable as revenue expenditure.

S.37(1): Business expenditure-Providing Documentation And Administration support in relation to vessel traffic at ports and co-ordination with various Government authorities to obtain clearances, certificates and approvals Accrual of income-Accrual of income-Loan to director-Interest offered to tax-Interest written off-Matter Remanded To Commissioner (Appeals) to verify the facts. [S. 4, 5]

S. 37(1): Business expenditure-Capital or revenue-Expenses on product registration and support services, trademark registration-Fees and patent registration fees-Revenue expenditure-Disallowance of expenditure-Exempt income-Book profit-Expenditure on scientific research-Addition is deleted. [S.14A, 28, 35 (2AB), 115JB

S. 37(1) : Business expenditure-Capital or revenue-Depreciation-Manufacturing concern-Expenditure on Jigs and Fixtures-Written off over two years-Capital in nature-Entitled to depreciation. [S. 32]

S. 37(1) : Business expenditure-Purchase of raw materials-Over-invoicing-Statements of employees not corroborated by facts-Addition is deleted-Bogus purchases-Entire purchase value cannot be added-Profit rate of eight per cent is fair and reasonable-Professional fees-Addition is not valid-Selling and marketing expenses comprising gifts, travelling expenses, hotel expenses and conference registration charges-Board Circular and Medical Council Regulations effective only from 14-12-2009-Sales Promotion expenses incurred prior to that date, not to be disallowed as prohibited by law whether or not including freebies given to doctors-Patient detection and education camp and camp expenses comprising medicine and testing kits, certain instruments purchased as required in medical camps-Incurred for benefit of patients and not doctors-Not to be disallowed–Sponsorship expenses made to trade bodies or associations not been prohibited by Medical Council Regulations-Disallowance is unwarranted-Sponsorship expenses to create brand awareness-Expenses on participation in symposiums and Exhibitions-No bar under Medical Council Regulations on registering at different symposiums, hiring and erecting stalls-Allowable as deduction-Expenses paid to institutions and trade bodies not resulting in benefit to medical Practitioner-Allowable as deduction-Hotel and travelling expenses benefitted doctors and amounting to availing of hospitality from a pharmaceutical company-Hotel expenses and travelling expenses is disallowable–Expenditure incurred for organising conference not freebies-Brand recall purchases-Expenses of nominal value less than Rs. 1,000 on articles with assessee’s name and logo given to customers, retailers, stockists and distributors-Excluded from mischief of medical council regulations-Allowable as deduction-Expenses on journals and periodicals incurred for researching and printing literature or purchasing journals regarding products and its related uses and effects-Allowable as deduction-Reimbursements of local taxi and conveyance expenses incurred by sales employees and staff on their outstation visits-No disallowance can be made-Expenses related to printing of files, folders, pads and pens to be used by field staff and doctors who were attending camps-Allowable as deduction-Expenses on articles and gifts purchased by field staff to be distributed to wholesalers, stockists and business partners-Allowable as deduction Expenses on air tickets of doctors attending conferences-Not allowable a deduction–Ad hoc disallowance-Estimated disallowance of 10 Per Cent. without rejecting books of account or pointing out any defect or omission-Disallowance is not justified-Employees’ Stock Option Plan Expenses-Allowable as revenue expenditure-[S. 37(1) Expln. 1, 69C, Central Board Of Direct Taxes Circular No. 5 Of 2012, Dated 1-8-2012, Medical Council Of India Regulations, 2009]