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2011 (10) TMI 702 - AT - Income TaxPayment to DAV Trust being reimbursement for running school in the premises of the assessee is allowable as staff welfare expenses u/s 37 - claim of depreciation on catalyst - deduction u/s 80IA - addition of club expenses - disallowance u/s 43B - disallowance of loss on account of sale of inventory and store items to sister concern made by the AO by invoking the provisions of Section 40A(2)(a) - disallowance of loss on account of revaluation of inventory of two imported pumps - credit of TDS on receipt from IMACID (Morocco)- pre-payment of deferred sales tax liability as capital receipt
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