S. 37(1) : Business expenditure-Setting up of business-Setting up studio on commercial property-Leave and License Agreement with Indiabulls Properties Pvt. Ltd. on 5-6-2009-Disallowance of expenditure is affirmed.

S. 37(1) : Business expenditure-Corporate social responsibility (CSR)-Set off against liability towards CSR of current year-Matter remanded to Assessing Officer for verification. [Companies Act, S. 135]

S. 37(1) : Business expenditure-Capital or revenue-Hotelier-Repairs-renovation and redecoration of rooms-Revenue expenditure.

S. 37(1) : Business expenditure-Travelling expenses-1/5 of disallowance is held to be justified.

S. 36(1)(iii) : Interest on borrowed capital-Interest free advances directors-capital reserve was more than the amount advanced and profit-Disallowance is not justified.

S. 32 : Depreciation-Intimation-Not claimed in the return by mistake-Rectification-As per Explanation 5 to section 32, even if depreciation was not claimed in return of income depreciation is allowable. [S. 139. 143(1), 154]

S. 32 : Depreciation-Additional depreciation-Windmill-Generation of electricity-Eligible to claim additional depreciation. [S. 32(1)(iia)]

S. 28(i) : Business income-Land dealings-Sale of residential plots by plotting agricultural land-Purchase of immoveable property-Assessable as business income and not capital gains-Matter remanded to determine capital gains till the date of conversion and business income thereafter. [S. 2(13), 45, 54B, 54F]

S. 24 : Income from house property-Deductions-Interest paid on loan-Flat mentioned in the loan agreement and deduction claimed was different-Deduction is not allowable. [S. 22, 24(b)]

S. 23 : Income from house property-Annual value-Vacancy allowance-Property vacant for whole or any part of previous year-Vacancy allowance is allowable. [S. 22, 23(1)(c)]