S.40(a)(iib):Amounts not deductible- Royalty, licence, fee, etc. (Gallonage fee, licence fee and shop rental (kist)) -Disallowable – licence granted to assessee for retail trade could not be sustained – Surcharge on sales tax- Surcharge on sales tax or turnover tax paid by assessee-company was not a ‘fee or charge’ coming within sweep of section 40(a)(iib), thus, same could not be disallowed . [ S.37 (1) ]

S. 40(a)(ia): Amounts not deductible – Deduction at source – Payment to contractor – Belated filing of form No 26Q- No disallowance could be made for failure to deduct tax at source [ S.194C (c)]

S. 37(1) : Business expenditure –Capital or revenue – Expenditure of lease premises – Allowable as revenue expenditure .

S.35: Scientific research – Directed the petitioner to make representation before the competent authority and the Competent was directed to consider the said application with in four weeks of receipt of the application [ Art .226 ]

S. 32 : Depreciation – ATM can be regarded as computer – Eligible depreciation at rate of 60 % .

S : 32: Depreciation – Intangible asset – Firm succeeded by Company – Revaluation of assets – Assessee is entitle to depreciation on actual cost incurred by it – 5th proviso will apply only in the year of succession and not in subsequent years and also in respect of over all quantum of depreciation in the year of succession – Order of Appellate Tribunal was quashed [ S.32 (1)(ii), 47(xiii) ]

S. 69A : Unexplained money – Search and seizure – Noting in diary of third party – Seized in the course of search – Without any corroborative evidence and had no authenticity, no additions could be made .[ S. 132 (4A) , 292C ]

S. 68 : Cash credits – Penny stock – Accomodation entries – Sale of shares – Capital gains – Exemption – Addition cannot be made on presumption – Entitle to exemption – When no incriminating material was not found in the course of search , no addition can be made – Estimation of commission was also deleted . [ S.10 (38) 45 , 69C , 132 ,133(6), 153A]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Penalty dropped by Assessing Officer on consideration of replies – Revision order directing the Assessing Officer to initiate penalty proceedings was quashed [ S. 132(4), 153A, 153C, 271AAB ]

S.43B: Deductions on actual payment – Employee’s contribution -paid before due date of filing of return –Allowable as deduction – Binding Precedent – Faceless assessment -Order of Jurisdictional High Court – binding on AO situated within territorial jurisdiction and respective first appellate authority. [ S. 2 (24)(x), 36 (1)(va), 139 (1), 143 (3) ]