S. 36(1)(vii) :Bad debt-Provision for bad debts-Bad debts written Off-Bad debts written off relating to non-rural advances is not required to be adjusted against provision for bad and doubtful debts allowed under Section 36(1)(viia)-Excess provision matter remanded. [S.36(1)viia)]

S. 32 : Depreciation-A Non-Banking Finance Company-Investments-Different method of accounting-Securities as per Reserve Bank of India norms-Disallowance of depreciation is deleted-Automated teller machine-Akin To Computer and computer software-Depreciation allowable at 60 Per Cent. [S. 145]

S. 28(i) : Business loss-Shortage and excess of stocks on physical verification of inventory-Ordinary loss in case of a manufacturer-Allowable as deduction. [S. 37(1)]

S. 23 : Income from house property-Annual value-Higher rent and lower security deposit-Matter remanded to Assessing Officer to determine annual lettable value and after giving an opportunity to assessee. [S. 22]

S.14A : Disallowance of expenditure-Exempt income-Disallowance is to be restricted to exempt income earned and only investments which had actually earned dividend to be considered for disallowance. [R.8D(2)(iii)]

S.14A : Disallowance of expenditure-Exempt income-Suo motu disallowance-Deletion of disallowance is justified.[R.D]

S.14A : Disallowance of expenditure-Exempt income-Voluntary disallowance is exceeding actual exempt income-Disallowance is deleted. [R.8D]

S.14A : Disallowance of expenditure-Exempt income-Sufficient interest free funds-Disallowance is not justified.[R.8D]

S. 12A : Registration-Trust or institution-Running Educational Institution-Denial of registration-Making profits-Matter restored to Commissioner for consideration of assessee’s application for registration de novo on merits-Delay is condoned.[S. 80G, 254(1)]

S. 12A : Registration-Trust or institution-Details by questionnaire communicated through Electronic mode on Department’s Portal-Merely uploading of information about date of hearing on Income-Tax Portal is not effective service of notice-Notice is not served-Matter restored to Commissioner (E) to decide afresh in accordance with law after giving reasonable opportunity of being heard to assessee.[S. 12A(1)(1)(ac)(iii), 12AB, 282(1), R. 127(1)]