S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Payment towards information systems and Telecommunications-Agreement was filed as additional evidence Matter restored for reconsideration in light of fresh evidence submitted by assessee. [S. 40(a)(ia), 254(1)]

S. 37(1) : Business expenditure-Foreign Trip-Medical professionals-Doctors-Allowable as business expenditure.

S. 36(1)(iii) : Interest on borrowed capital-Investment made during the year in capital assets-Proven to be out of assessee’s own fund-Disallowance was not justified.

S. 36(1)(iii) : Interest on borrowed capital-Advance given to subsidiary or sister concern-Share capital reserves and surplus available-Disallowance of interest was deleted.

S. 32AC : Investment in new plant or machinery-Acquired before 31st March, 2017-Not required to put to use-Deduction allowed.

S. 32 : Depreciation-Intangible Assets-Acquired from business transfer agreement-Depreciation allowable on the basis of valuation report. [S. 32(1)(ii)]

S. 32 : Depreciation-Installation of asset-Considered as asset has been put to use-Entitle to depreciation-UPS is to be considered as an integral part of the computers and depreciation is to be allowed @ 60%.

S. 28(i) : Business loss-Commercial expediency-loss caused as a result of fraud, embezzlement by employees was allowed as business loss. [S. 37(1)]

S. 28(1) : Business loss-losses incurred due to surrender of NLD certificate-Allowable as normal business loss. [S. 37(1)]

S. 28(i) : Business income-Income from house property-Rule of consistency-No justifiable reasons to change income head-Income continued to be assessed under the head of business income. [S. 22]