S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment Received as partner of joint venture-Amount paid to joint venture partner diverted by overriding title-Disallowance not sustainable.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Commission-Non-Resident-Matter remanded for verification. [S. 195]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident –Service rendered outside India-Not liable to deduct tax at source.

S. 37(1) : Business expenditure-Loss on revaluation of business advances-Loss on account of foreign exchange rate fluctuation as on date of balance-sheet is allowable as deduction. [S. 28(1)]

S. 37(1) : Business expenditure-Capital or revenue-Expenses on repairs, supply of consumables, and recalibration of machinery-No new asset coming into existence-Allowable as revenue expenses.

S. 37(1) : Business expenditure-Expenditure incurred on celebration of Ireland-Not allowable as business expenditure-Unverifiable and personal element involved-Disallowance of 20 Per Cent. is up held.

S. 37(1) : Business expenditure-Club membership fees for employees and entertainment of customers-Allowable as business expenses.

S. 37(1) : Business expenditure Duty Drawback-Reimbursing Duty Drawback To Supporting Manufacturers Through Account Payee Cheques-No disallowance can be made. [S. 133(6)]

S. 32 : Depreciation-Windmill-Civil work and electric generator part of windmill-Rate as applicable for windmill i.e. 80%-Applicable To Civil Work And Electric Generator-Entitled to additional depreciation.

S. 32 : Depreciation-Leased assets-Eligible depreciation accordance with schedule of assets-Computer software capitalised-Entitled to depreciation at 60 Per Cent.