S.37(1):Business expenditure —Proportionate drop in vehicle maintenance account in profit and loss statement — Addition not tenable.

S. 36(1)(iii) :Interest on borrowed capital -Borrowed funds used for investment in shares for business purposes —Allowable as deduction [ S.37 (1) ]

S. 35 : Scientific research – Approval by department of Scientific and Industrial Research — No provision at relevant time requiring approval of expenses by department of scientific and industrial research – Amendment is not retrospective as it introduces additional condition and affects substantive rights of assessee – Delay of filing of appeal due to Covid- 19 Pandemic , was condoned . [ S. 35(2AB, 37 (1) )

S. 28(i) : Business loss – Goods lost due to burning — Estimate made per consumption and production of goods accurate — Addition made on estimate basis rejected . [ S.143 (3) ]

S .14A : Disallowance of expenditure – Exempt income – Not recording of satisfaction – Disallowance was restricted to sum claimed by assessee .[ R.8D ]

S .14A : Disallowance of expenditure – Exempt income – Interest – Interest paid on loans to be set off against interest income from term deposits [ R.8D ]

S. 12AA : Procedure for registration –Trust or institution- Non-payment of taxes not a criteria for denial of registration – Registration is directed to be granted .[ S. 11(1)(d), 12A, 139(4A )] S. 12AA : Procedure for registration –Trust or institution- Non-payment of taxes not a criteria for denial of registration – Registration is directed to be granted .[ S. 11(1)(d), 12A, 139(4A )]

S. 12AA : Procedure for registration –Trust or institution-Functioning from Temple premises – Matter remanded – Time limit for passing order granting approval — Period of six months to be calculated from end of month in which application received — Order with in limitation period [ S. 2(15), 80G R. 11AA ]

S. 10AA : Special economic zones – Additions- Bogus purchases — Enhanced profits- Eligible for deduction

S. 10 (23C): Educational institution- Providing accommodation and food and beverages, Etc – Not commercial activities – Entitle to exemption [ S. 2(15), 10 (23C) (iv) ]