Disallowance of interest under section 36 (1)(iii) – Deposit for premises -Related party – assessee has interest free funds available with it in the form of share capital and free reserve : No disallowance :
Dies written off- no sale of Dies during the year – valuation increase/decrease in the dies is not at all revenue expenditure- Assessee never claim it is a deduction – merely adjustment .

State Government subsidy- Amount received as Grant AO treating the same as Business Income – State Government subsidy for expansion of capacity in the form of Octroi duty refund – the object of the scheme and stated that it is for industrialization of a particular region and therefore it is capital receipt – not chargeable to tax