S. 37(1) : Business expenditure-Capital or revenue-Contingent-Ascertained expenditure-Premium payment on redemption of shares which has been quantified-Allowable as revenue expenditure-Duty of Tribunal to give finding based on facts. [S. 254(1)]

S. 37(1) : Business expenditure-Business loss-Unexplained investments-Search-Unaccounted silver-Penalty or confiscation-Loss on account of confiscation-Not allowable as business loss. [S. 28(i), 37(1), Expln. 69A, 115BBE]

S. 37(1) : Business expenditure-Lease of assets-Lease rent assessed as business income in the assessment of lessor-lease rent should be allowed as deduction-Revenue cannot contend that the assessee is the owner. [S. 32, Art. 132]

S. 37(1) : Business expenditure-Final difference in rate paid at end of accounting year-Allowable as deduction. [S. 145]

S. 37(1) : Business expenditure-Capital or revenue-Expenditure on replacement of remembraning in membrane cell plant-No material to show membrane itself could be treated as separate and independent machine-Revenue expenditure.

S. 36(1)(vii) :Bad debt-Amounts written off-Agreements with sister concern for take over and assignment of certain book debts-Order of tribunal allowing the bad debt is affirmed.[S. 36(2), 260A]

S. 36(1)(vii) : Bad debt-Money lending business-Debts taken over from sister concern-Allowed as deduction-SLP of Revenue dismissed. [S. 36(2), Art, 136]

S. 32 : Depreciation-Revised return-Withdrawing claim to depreciation-Assessing Officer granting depreciation under amended provisions-Held to be not permissible. [S. 32(1), Expln.5]

S. 28(i) : Business loss-Shortage of coal-Deletion of addition is affirmed. [S. 260A]

S. 28(i) : Business loss-Unabsorbed depreciation-Carry forward and set off-Amalgamation of companies-Relates back to appointed date-Business loss and unabsorbed depreciation of transferor company allowable. [S. 32, 72]