S. 32 : Depreciation-Additional depreciation-Manufacturing switchgear products-tools, dies, jigs, etc.-Parts of machinery entitle to claim additional depreciation.

S. 28(iv) : Business income-Value of any benefit or perquisites-Converted in to money or not-Advances deposits in preceding year-Failure to file confirmation-Cessation liability-Provision of section 28(iv) is not applicable. [S. 41(1)]

S. 23 : Income from house property-Annual value-Vacancy allowance-Only an intention to let out a property coupled with efforts to let out is sufficient to come within purview of section 23(1)(c)-As lease rental received was nil, addition made by Commissioner (Appeals) on basis of Annual Letting Value (ALV) under section 23(1)(a) was to be deleted. [S. 22, 23(1)(a), 23(1)(c)]

S. 14A : Disallowance of expenditure-Exempt income-Disallowance is to be restricted to extent of exempt income earned during the year. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Explanation inserted by Finance Act, 2022 with effect from 1-4-2022 Provisions shall apply whether or not exempt income has accrued, arisen or received-Clarificatory in nature and applicable retrospectively. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-Dividend and interest-Did not make suo motu disallowance-Matter remanded. [S. 10(34), R. 8D(ii)]

S. 14A : Disallowance of expenditure-Exempt income-Failure to record dissatisfaction-Addition was deleted. [R. 8D(2)(iii)]

S. 14A : Disallowance of expenditure-Exempt income-No exempt income-Disallowance cannot be made-Prior to 1-4-2022 [R. 8D]

S. 13 : Denial of exemption-Trust or institution-Investment restrictions-Investment in a company-Denial of exemption is valid. [S. 11(5), 12A, 13(1)(d)]

S. 12AB : Procedure for fresh registration-Conditional registration-Commissioner’s guidance about conduct of assessee could not be construed as legally binding-Condition prescribed by the CIT(E) is vacated. [S. 12A(1)(c)]