Section 10(10C) of the Income Tax Act

The refund of guarantee commission for the unexpired period of a guarantee contract, where the contract is revoked prematurely, is a valid deduction for the assessee-bank.

Statutory liabilities, like customs duty, are deductible only in the year they are actually paid, regardless of the assessee's accounting method, as per Section 43B.

The Assessing Officer cannot make additions under Section 14A concerning investments in shares if the investment was not made for future benefit and was intended for business purposes.

Engaging in the treatment of bio-medical waste qualifies as maintaining or developing an eligible infrastructural facility under Section 80IA(4) for availing deductions.

A liability incurred by an assessee, even if disputed, is deductible in the year it is incurred and becomes enforceable, such as through an arbitration award or court decree, regardless of subsequent legal challenges or stays.