Share application money cannot be treated as unexplained credit if the AO does not make any investigation on the documentary evidences filed by the assessee
In the absence of any overt act, which disclosed conscious and material suppression, invocation of Explanation 7 to s. 271(1)(c) in a blanket manner could not only be injurious to the assessee
Amount disallowed u/s 14A of the Act cannot be added to arrive at book profit for purposes of section 115JB of the Act