Diluting Deeming Provision : No taxation as Deemed dividend u/s 2(22)(e) if borrower is not shareholder in lender company
If Benefit of Input Tax Credit is denied to buyers of flat then liable for penalty under section 122(1)(i)
Fresh information from VAT authorities regarding bogus purchase is valid ground for reopening of assessment
Sec 80AB, 80HH Deduction can be without deducting Depreciation and Investment Allowance out of “Income”
Failure to attend proceedings can’t be a ground to reject application for condonation of delay: Bombay HC