S. 90 : Double taxation relief-Tax credits withheld in USA and Canada-Entitle to credit though the income is exempt under section 10A of the Act-DTAA-India-Canada-USA. [S. 10A]

S. 80IA : Industrial undertakings-Infrastructure development-Initial assessment year-loss or unabsorbed depreciation, which had already been set-off prior to initial year, would not be notionally carried forward and adjusted against profits of eligible business in order to determine deduction. [S. 32, 72, 80IA(5)]

S. 45(5A) : Capital gains-Joint development agreement-Constitutional validity-Amendment by Finance Act, 2017providing for taxation of capital gains from Joint development agreements-Amendment valid-Different classes of assesses-Amendment is with effect from 1-4-2018 and not retrospective. [S. 2(47)(v), 45,48, Transfer of Property Act, 1882, S. 53A, Art. 14, 226]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Payments to cultivator, grower or producer of dairy produce-Payments for purchase of cream-Disallowance is justified. [R. 6dd(f)(ii)]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Management fees-International Transactions-Transfer Pricing-Res Judicata-Commercial expediency-Principles of consistency and rule of finality applied. [S. 40A(2)(b), 92A(3), 144C, 260A]

S. 37(1) : Business expenditure-Prior period expenditure-Liability crystallised in relevant previous year-Allowable as deduction. [S. 145]

S. 37(1) : Business expenditure-Capital or revenue-Annual subscription fee for software licence-Revenue expenditure-Provision for payment to employees based on performance-Not contingent-Allowable as deduction. [S. 145]

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.

S. 28(i) : Business Loss-Loan advanced to subsidiary-Converted to preference shares-Reserve Bank of India directive-Diminution in value of shares-Deductible as business loss. [S.37(1)]

S. 10B : Export oriented undertakings-Filing of Form 56G is mandatory requirement-Denial of exemption is justified. [S. 10A, 10B(5), Form 56F, 56G]