S. 37(1) : Business expenditure-Provision for slow or non-moving and obsolete inventory-A separate provision in this regard, could not be allowed to the assessee-Liability not crystallised is not allowable as deduction. [S. 145]

S. 37(1) : Business expenditure-Capital or Revenue-Advertisement expenses not debited to Profit and loss account but accounted in balance-sheet as “Capital Work-In-Progress (Brand Building expenditure)”-Allowable as deduction. [S. 145]

S. 37(1) : Business expenditure-Employees’ Stock Option Scheme-Deducted tax at source in respect of share-based compensation under taxed in hands of employees as perquisite-Cross-charge expenses-Allowable as deduction-Assessing Officer was directed to verify whether amount subject to tax deduction at source-Matter Remanded. [S. 15, 17(1), 40(a)(i), 192, 195]

S. 37(1) : Business expenditure-Capital or revenue expenditure-Temporary structure-100% depreciation is allowable.[S. 32]

S. 37(1) : Business expenditure-Miscellaneous expenditure-Ad Hoc disallowance-Deletion is held to be proper.

S. 37(1) : Business expenditure-Credit card expenses of employee-Matter remanded for verification.

S. 37(1) : Business expenditure-Capital or Revenue Expenditure-Payment for acquisition of application software-Revenue expenditure.

S. 37(1) : Business expenditure-Financial assistance to meritorious students-Not contingent-Allowable as deduction-Capital or revenue-Expenditure for new electricity connection and Meter cost-Internet networking expenses-Payment to Municipality for name transfer fee-allowable as revenue expenditure-Expenses incurred for extension of height of existing boundary wall-Capital expenditure-Fines and penalties-Expenses for regularisation of construction of old building-Penalty imposed by Urban Improvement Trust on account of unauthorised construction-Not allowable as business expenditure.[S. 145]

S. 37(1) : Business expenditure-Ex gratia payment-Deduction should be allowed although liability may have to be quantified and discharged at future date-Matter remanded. [S. 145]

S. 37(1) : Business expenditure-Expenditure is not substantiated with valid vouchers-Disallowance is affirmed.