1. Sec 68: No addition where parties have sufficient bank balance while giving loans. [ITO vs. Rekha Bansal (ITAT Delhi), I.T.A.No.4455/Del/2013 & C.O. No. 43 / Del/ 2014, AY 2009-10].
2. Subsidy to set up a new unit or to expand an existing unit is capital receipts, purpose test will prevail. [M/s. Shivalik Prints Limited vs. ACIT (ITAT Delhi), ITA No.4698/Del./2011]
3. Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts. [DCIT vs. M/s J.K. Cement Ltd. (ITAT Lucknow), ITA No.499/LKW/2010, ITA No.247 / LKW/2011, ITA No.180/LKW/2012, ITA No.570/LKW/2012 & ITA No.668/LKW/2014
4. Expenditure incurred by the assessee on issue of Foreign Currency Convertible Bonds (FCCB) is revenue expenditure allowable under section 37(1) of the I.T. Act. - Tribunal. (Gati Limited vs Income Tax Officer, Ward – 2 (2) Hyderabad - 2016 (2) TMI 404 – ITAT HYDERABAD)
5. Today 15.02.2016 is last day for issue of quarterly TDS certificate for the quarter ending in December, 2015 by government deductors.
6. Today 15.02.2016 is the due date for e-payment of PF for the month of January, 2016 (No grace period of 5 days available).