S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Interest liability of State Government undertaking on Government Loans converted by order of State Government into equity share capital-No cessation of liability-Addition cannot be made.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payee reflected the said amount as it tax liability-No disallowance can be made.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid to resident-Second proviso to S.40(a)(ia) is applicable-No disallowance can be made.

S. 37(1) : Business expenditure-Marketing and publicity expenses-Expenditure by way of marketing and publicity expenses for promoting its regional channels ‘Star Pravaha’ and ‘Star Maza’-Held to be allowable as business expenditure.

S. 37(1) : Business expenditure-Capital or revenue-Expenditure incurred on fertility improvement amongst milk animals-Held to be allowable as revenue expenditure.

S. 37(1) : Business expenditure-Additional evidence of lorry expenses for first time before CIT(A)-Considering the remand report Tribunal confirmed the addition-Miscellaneous application was dismissed-High court remanded the matter to AO for readjudication. [S. 254(2), 260A]

S. 32 : Depreciation-Goodwill-Entitle to depreciation-No question of law. [S.260A]

S. 28(i) : Business loss-Business expenditure-Obsolescence allowance-Write of off obsolete stock-Allowable as business loss. [S. 37(1), 145A]

S. 14A : Disallowance of expenditure-Exempt income- Disallowance cannot exceed assessee’s exempt income. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed exempt income earned-Tribunal restricting disallowance to extent offered by assessee is held to be proper. [R. 8D]