S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – Trade payables outstanding for more than three years in the books – Addition cannot be made as remission or cessation of trading liability . [ S.68 ]

S.37(1): Business expenditure -Interest paid on delayed payment of service tax is compensatory in nature – allowable as deduction . Finance Act , 1994 , S 75 , 76 ]

S. 32 : Depreciation – Block of asset- Written down value of asset is reduced to zero or block of asset is empty or it ceases to exist on last date of previous year- Depreciation is not allowable . [ S. 2(11) , 41(1) 50 ]

S. 12AA : Procedure for registration –Trust or institution- Education – Skill enhancement – Entitle to exemption – Rejection of application is held to be not valid .[ S.2(15) ]

S. 271AAB:Peanlty -Search initiated on or after Ist day of July 2012- Amount surrendered – No reasonable opportunity was given – Matter remanded to the AO [ S. 132, 274 ]

S. 251 : Appeal – Commissioner (Appeals) – Powers – New claim- Not raised in the return – CIT (A) can entertain any new claim for deduction even the said claim was not raised in return of income originally filed or by way of filing revised return. [ S.35(1)(iv) , 139 ]

S.92C:Transfer pricing – Assessee accepted MAP resolution arrived at between competent authorities of India and Japan, issues raised in appeal became infructuous and, thus, same were to be dismissed as withdrawn. [ S.254(1) ]

S. 69 :Unexplained investments – Search and seizure – Bogus purchases – Diary -Contents of a seized document are to be read in toto, and it is not permissible on part of an AO to dissect same and therein summarily accept same in part and reject other part. [ S. 132, 292C ]

S. 45 : Capital gains – Capital receipt – Professional goodwill -Business income -Compensation – Amount received against termination of right – Held to be capital receipt [ S. 2(14), 4, 28(ii(a), 55 ]

S.37(1): Business expenditure – Capital or revenue – DTT subscription to use Deloitte- Brand helped for getting more business- Held to be allowable as business expenditure.