S. 37(1) : Business expenditure-Capital or revenue-Pre operative expenditure-purchase and erection of plant and machinery-Allowable as revenue expenditure-Allowed earlier years and latter years-Rule of consistency is followed. [S. 145, 260A]

S. 37(1) : Business expenditure-Capital or revenue-Corporate Social Responsibility (CSR)-Amendment is not retrospective-Explanation 2 was inserted by the Finance Act, 2014 with effect from April 1, 2015 to section 37(1) of the Income-tax Act, 1961 and is prospective-SLP of Revenue is dismissed.[Art. 136]

S. 37(1) : Business expenditure-Compensation-Subsidiaries-Captive use-Delay of 526 days-SLP of Revenue is dismissed.[Art. 136]

S. 37(1) : Business expenditure-Capital or revenue-Software development-Allowable as revenue expenditure-SLP of Revenue expenditure.[Art. 136]

S. 36(1)(iii) : Interest on borrowed capital-Own interest free funds-Order of Tribunal deleting the disallowance is affirmed.[S.260A]

S. 36(1)(iii) : Interest on borrowed capital-Own interest free funds-Order of High Court affirming the order of the Tribunal is up held-SLP of Revenue is dismissed.[Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made.[S. 260A, R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made.[S. 260A,R.8D]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance made voluntarily was more than exempt income-No further disallowance can be made-Delay of 340 days-SLP of Revenue is dismissed on account of delay in filing of SLP-Question of law, if any is kept open. [R.8D, Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumed that investments were made out of interest-free fund-Disallowance cannot be made-Order of High Court is affirmed-SLP of Revenue is dismissed. [R. 8D, Art.136]