S. 32: Depreciation-Merger-Assessing Officer should allow depreciation on basis of computation made by assessee and not to reduce WDV on basis of notional amount of depreciation.

S. 32 : Depreciation-Computer software-Block-Software and computer as one block, issue was to be remitted back to Assessing Officer to decide as per findings returned by Tribunal. [S. 2(11)]

S. 28(ii)(c) : Business income-Termination of agency-Neither capital structure of assessee had been affected nor it had affected trading structure of business-Compensation received by the assessee from German company was business income under section 28(ii)(c) read with section 28(va)(a) and not capital gains. [S. 28(va), 45, 55]

S. 28(i) : Business income-Survey-Unaccounted receipts-Disclosed in the revised return-Assessable as business income and not as cash credits applying the provision of S. 115BBE of the Act.[S. 68, 115BBE, 139(5)]

S. 28(i) : Business income-Capital gains-Purchase of land-Co-owners-Partnership firm with-Co-owners-Development agreement with firm-Intention was doing real estate business-Profit is to be assessed as business income and not as capital gains-Denial of exemption under section 54F is justified. [S. 45, 54F]

S. 24 : Income from house property-Deductions-Rental income-Let out portion of its house property-Assessable as income from house property and not as income from other sources-Entitle t statutory deduction @30% under section 24(a) of the Act. [S. 22, 24(a), 56]

S. 22 : Income from house property-Form No 26AS-Revised by the deductor-Matter is remanded to verify factual claim.[Form No 26AS]

S. 14A : Disallowance of expenditure-Exempt income-Tax free dividend income-Disallowance could not exceed exempt income.[R.8D]

S.14A : Disallowance of expenditure-Exempt income-Recording of satisfaction-Non recording of satisfaction-Addition is deleted. [R.8D]

S.14A : Disallowance of expenditure-Exempt income-Not earned any exempt income, no disallowance can be made-Employee’s contributions (PF/ESI)-Payment was made within the period of grace period of five days-No disallowance can be made-Matter remanded. [S. 36(1)(va), R.8D]