S. 43B : Deductions on actual payment-Income from house property-GST-Matter remanded.

S. 43A : Rate of exchange-Foreign currency-Business of charter and hire of oil drilling rig and other allied services-Procedure- calculating receipts currency conversion is Explanation 2(c) to rule 115(1) without taking into account proviso to rule 115(1). [Rule. 115]

S. 43(1) : Actual cost-Subsidy-Depreciable assets-Subsidy cannot be reduced from actual cost. [S. 32]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Transfer of amount for payment to workers at site-All payments are below Rs.20,000 to each individual-No disallowance can be made.

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Commission-Brokerage-Related party-Comparable with market rate-No disallowance can be made.

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Training, printing and staff welfare expenses-Reimbursement of expenses without any profit element-Receipts not chargeable to tax-Not liable to deduct tax at source-Article 7 of OECD Model Convention-DTAA-India-Singapore. [S. 9(1)(i), 195]

S. 37(1) : Business expenditure Land acquired by Metro-Commercial obligation-Parking space to shop owners-Cost of land allowable as deduction. [S. 28 (1)]

S. 37(1) : Business expenditure-Foreign exchange loss-Hedging-Mark to market on foreign exchange forwards-Allowable as business loss. [S. 28(i)]

S. 28(i) : Business loss-Forward contract-Hedging loss-Foreign exchange loss-Allowable as business loss. [S. 37(1)]

S. 28(i) : Business loss-Real estate business-Earnest money forfeited-Allowable as business loss-Commission paid to agent for purchase of plots of land-Transaction not materialise due to failure to pay full amount of consideration-Allowable as business loss. [S. 37(1)]