S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment of gateway charges and other bank charges-Matter remanded to the Assessing Office.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Shipping expenses in nature of freight-Agent acting on behalf of Non-Resident ship owner or Charterer-Not required to deduct tax at source. [S. 172, 194C, 195]

S. 37(1) : Business expenditure-Books of account not rejected-No Ad hoc disallowance can be made.

S. 37(1) : Business expenditure-Capital or revenue-Advertisement, marketing and promotion expenses-Allowable as revenue expenditure. [S. 92CA(3)]

S. 37(1) : Business expenditure-Bank-Broken period interest-Paid for securities at time of acquisition-Allowable as deduction-Appellate Tribunal-Pronouncement of 90 days-Lockdown period to be excluded [ITAT R.34(5)]

S. 37(1) : Business Expenditure-Miscellaneous expenses-Transport Business In North East States-Expenses in cash for repairs of trucks in local repair shops-No disallowance can be made-Puja expenses-Only 10 % of expenses can be disallowed.

S. 36(1)(viii) : Eligible business-Special reserve-No time limit for creation of special Reserve-Eligible for deduction.

S. 36(1)(vii) : Bad debt-Bad debt-Doubtful debts-7.5 Per Cent. of total business income plus 10 Per Cent. of average rural advances-Provision for bad and doubtful debts-Direction to AO to consider the claim. [S. 36(1)(viia)]

S. 36(1)(iii) : Interest on borrowed capital-Funds diverted for equity infusion of associated concerns-Disallowance of interest is held to be justified.

S. 32 : Depreciation-Purchase Bills for certain assets not genuine-Assessee and department agreeing for one lakh disallowance-Depreciation is allowable on balance purchases.