S. 37(1) : Business expenditure-Referral fees to Doctors-Prohibited by law-Not allowable as revenue expenditure. [Medical Council (Professional Conducts, Etiquettes and Ethics) Regulation Act, 2002 Regulations, 6.4, 6.8 and 8.1].

S. 36(1)(iii) : Interest on borrowed capital-liquidation damages/pre-payment charges-Own interest free funds-Expenditure incurred towards payment of interest on borrowed funds was to be allowed as deduction.

S. 32 : Depreciation-Lease of assets-Financial transactions-Failure to provide lease agreements-Matter remanded [S. 143(3), 254(1)].

S. 32 : Depreciation-Stock in trade-Fall in value of securities-Depreciation allowable.

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

S. 32 : Depreciation-Business of hire purchase and leasing-Motor vehicles-Entitle to depreciation at 40 percent.

S. 28(i) : Business income-Letting out of properties along with other amenities-Rental income assessable as business income and not as income from house property [S. 22].

S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during relevant year-No disallowance can be made [R. 8D].

S. 14A : Disallowance of expenditure-Exempt income-Only those shares which had yielded dividend income in year under consideration to be considered [R. 8D].

S. 14A : Disallowance of expenditure-Exempt income-No exempt income-No disallowance can be made [R.8D].