S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits – purchase of lands from farmers – Disallowance deleted. [ R.6DD]

S. 40(a)(ii) : Amounts not deductible – Rates or tax – Business expenditure – deduction for foreign taxes paid allowed while computing its income, to the extent that such tax was not entitled to the benefit of section 91 of the Act.[ S.37 (1), 91 ]

S. 37(1) : Business expenditure – expenditure on implementation of a new software package – Allowable as revenue expenditure.

S. 37(1) : Business expenditure-expenditure incurred on affixing adhesive stamps on conveyance deed-held, it is revenue expenditure-provision for warranty-provision for present obligation due to past event-not a contingent liability-expenditure allowed-Depreciation on goodwill and customer contracts-held in nature of intangible assets, therefore eligible for depreciation [ S. 32. ]

S. 36(1)(iii): Interest on borrowed capital –Interest free advances made-availability of sufficient own funds- addition deleted by the Tribunal-delay in payment to the account of Provident Fund-disallowance upheld-delay in pronouncement of order by the Tribunal-90 days period should exclude at least the lockdown period. [ S.254 (1), ITAT R. 34(5)]

S. 14A : Disallowance of expenditure – Exempt income – Ad-hoc disallowance – Deleted.[R.8D ]

S. 10AA : Special economic zones –Transfer pricing voluntary adjustments – Entite to deduction in enhanced income [ S.92C ]

S. 9(1)(vi) : Income deemed to accrue or arise in India – Royalty – Singapore tax resident providing bandwidth services – Cannot be taxed as royalty as Indo-Singapore DTAA does not include transmission by satellite, cable, optic fiber or similar technology in the definition of ‘Royalty’- DTAA -India – Singapore [ Art. 12 (3)]

S. 4 :Charge of income-tax – Assessee a Federation of co-operative societies received contribution from its members towards co-operative education fund – Assessee had no discretion to spend amount received – the contribution could not be treated as income of assessee.[ S.80P(2)(a)(i)]

S. 4: Charge of income-tax – Reimbursement of Software payments – Licence obtained from third parties –Not royalty – Not taxable [ S.9(1)(vii)]