S. 35DD: Amortisation of expenditure -Amalgamation -merger expenses -whether the year in which the High Court order was received can be treated as the 1st year from which the merger expenses can be claimed u/s 35DD and allow to claim the said expenses in next 4 AYs -Held yes.

S. 32 : Depreciation -Goodwill -an intangible asset, qualifies for depreciation under the section, in acknowledgment of its value and impact on a company’s financial performance.

S. 28(i) : Business loss Bad debt – Non-recovery of part of an amount advanced towards purchase of property -Written off in profit and loss account and claimed as deduction while computing income –business loss.[S. 36 (1)(vii), 37(1)]

S. 14A : Disallowance of expenditure -Exempt income – The provisions of the section are not applicable when the Assessee has not claimed any exempt income.[R. 8D]

S. 14A: Disallowance of expenditure -Exempt income -Not recording of satisfaction- Disallowance is not justified.[R.8D]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions – The transaction for purchase of land was a genuine and commercial transaction therefore, the provisions outlined in section 13(2)(a) do not apply to it. [S.11, 12A, 13(1)(c), 13(2)(a)]

S. 12A : Trust or institution -Registration -Insufficient time to responded to notice -Violation of the fundamental principles of natural justice- The ITAT also set aside the order rejecting the application u/s 80G (5) and directed the CIT (E) to decide the application afresh in accordance with law. [S.12AB 80G(5), Form No. 10A]

S. 11 : Property held for charitable purposes – Application of income -Expenses incurred on the repairs or renovation of its assets used for charitable purposes are also considered as income application towards the charitable aims. [S. 11(1)(a), 12A]

S. 11 : Property held for charitable purposes -Income from property –Revising the claim with higher deduction -Not filed the return and Form No 10 within due date prescribed under section 139(1) of the Act -Not justified in not allowing the deduction for amount accumulated under section 11. [S. 11(2), 139(1), 143(1), Form No. 10]

S. 10(10AA) : leave salary -Employee of the central government or state government -Leave encashment – Directed to allow the exemption. [S. 154]