S. 43(6) : Written down value-Liquidated damages-Compensation from suppliers-Capital receipts-Block of assets-Depreciation-Not to be reduced from the cost of fixed assets.[S.2(11), 4, 32]

S. 40A(7) : Expenses or payments not deductible-Gratuity-Fund maintained by LIC-Pendency of application-Matter is remanded to the file of AO for verification.[S.36(1)(vi)]

S. 40A(2): Expenses or payments not deductible-Excessive or unreasonable-Relative of partner-Service rendered is not doubted-No disallowance cannot be made.[S. 37(1)]

S. 40(a)(ia): Amounts not deductible-Deduction at source-interest paid on the deposits-Co-operative bank-Finance Act, 2015 w.e.f. 1st June, 2015-Amendment is applicable prospectively w.e.f. 1st June, 2015 and not applicable for the relevant years-Deletion of disallowance is affirmed.[S.194A(3)(v)]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Commission payment to foreign agents-Services rendered abroad-Not liable to tax in India-Not liable to deduct tax at source. [S.9(1)(i), 195]

S. 37(1) : Business expenditure-Capital or revenue-Registration charges of new and existing patents-Allowable as revenue expenditure.

S. 35 : Expenditure on scientific research-Weighted deduction-In-house scientific research-Expenditure on clinical trials conducted outside approved-Clinical research outside facility would also be eligible for weighted deduction under S. 35(2AB). [S. 35(2AB]

S. 28(i) : Business loss-Market to market loss-Allowable as business expenditure.[S. 37(1)

S.14A : Disallowance of expenditure-Exempt income-Not possible to maintain separate books of account-The AO is directed to restrict the disallowance on a reasonable basis.[R.8D(2)(iii)]

S. 12AB : Procedure for fresh registration-Registration granted cannot be cancelled without following due process of law-CIT(E) is directed to consider the assessee’s application under S. 12A(1)(ac)(v) in Form 10AB seeking approval for change in its objects/rules/ regulations as per the new trust deed and pass an order afresh in accordance with law.[S.12A(1)(ac)(v), 12AB(4), Form No. 10AB]