S.37(1): Business expenditure-License fee-Commercial exploitation of music albums-Deferred revenue expenditure to be amortized over six-year period and not as prior period expenses-Matter remanded.

S.37(1): Business expenditure-Broken period interest, i.e., interest accrued between last coupon date and date of purchase of government securities-Allowable as business expenditure.

S. 37(1) : Business expenditure-Discount on issuance of ESOPs is an allowable business expenditure.

S. 37(1) : Business expenditure-Provision for depreciation on AFS securities-Debited to profit and loss account-Allowable as deduction.

S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts-Schedule bank-Provisions are made as per direction of RBI-Allowable as deduction.

S. 36(1)(va): Any sum received from employees-Delayed payment of employee’s contribution towards PF and ESIC-Not allowable as deduction. [S. 37(1)]

S. 36(1)(iii) :Interest on borrowed capital-Interest on customer advances-Advances received from customers were utilized for business purposes as per MOU-Addition is deleted.

S. 35 : Expenditure on scientific research-Capital expenditure-Outside India-Not eligible for weighted deduction under section 35(2AB)-Eligible for deduction under section 35(1)(iv) of the Act.[S. 35(1)(iv), 35(2AB)]

S. 32 : Depreciation-Not claimed-Commercial manner-As per Explanation 5 to section 32(1), depreciation was to be allowed while computing its income in a commercial manner. [S.11, 12, 12A, 32 (1)]

S. 28(i) : Business income-Power generation-Interest income-Loans and advances to employees-interest income earned from loans and advances provided to employees is incidental to business of power generation and qualified as business income and not as income from other sources.[S. 56]