“Section 87(2)(a)”

The "full value of the consideration" for computing capital gains under Section 48 of the Income Tax Act, 1961 (or Section 12B(2) of the 1922 Act), means the price actually bargained for and agreed to by the parties, not the market value of the asset transferred. In a sale transaction involving a price, the market value of the consideration is not relevant.

Depreciation is allowable on goodwill as an intangible asset under Section 32(1)(ii) when it arises from a scheme of amalgamation or similar corporate restructuring.

A payment made to eliminate competition is a capital expenditure, not a deductible business expense, as it secures an enduring benefit.

Interest on outstanding receivables arising during business is considered an international transaction under the definition of 'capital financing'.

The crucial aspect for an organisation to qualify for an exemption based on the advancement of general public utility is the object of that utility itself, not its actual accomplishment or attainment. The requirement that such an object must not involve carrying on an activity for profit applies to the object, not its implementation.

Section 40A(3) disallowance cannot be applied when assessment is based on undisclosed investment, as this section applies only when genuine expenditure is incurred but the mandate of Section 40A(3) is violated.

This case addresses the tax treatment of a loan written off by a creditor as income of the debtor, particularly when the debtor is a Non-Banking Financial Company (NBFC). The judgment explores whether such a write-off constitutes income for the assessee in the absence of proper inquiry by the Assessing Officer.