S.2(22)(e): Deemed dividend- Share holders- Current and inter banking accounts between group companies cannot be considered as loans and advances and addition cannot be made as deemed dividend- No physical possession of accumulated profits, hence no addition can be made as deemed dividend .

Chartered Accountants Act, 1949

S. 21: Misconduct -Disciplinary Directorate-Multinational Accounting Firms ( MAFs)- Union of India was to be directed to constitute a Committee of Experts in order to look in to function of Multinational Accounting Firms ( MAFs) [ S. 25, 29 ]

Advocates Act ( 25 of 1961)

S. 29: Practice of law – Foreign law firms and foreign lawyers cannot set up offices and practice in India , however they can give advice to Indian clients on ‘fly in and fly out’ mode on temporary basis . [ S. 24(1)(a), 47 (2) ]

S. 271(1)(c) : Penalty – Concealment -Donation-Withdrawal of claim on alleged bogus donation and filing the revised return disclosing the alleged bogus donation- Deletion of penalty was held to be valid .[ S. 35(1)143(3) , 148 ]

S. 260A : Appeal – High Court -Formulation of additional substantial question of law – Court has the power to frame an additional substantial question of law even at the time of hearing of appeal [ S.32, 80HH, 260A(4 )]

S. 239 : Refunds – Limitation -CBDT-Tax deduction at source -Delay in filing of return ,matter was remanded to CIT to consider the genuine hardship being the charitable institution [ S.12A, 119(2)(b) , 139 ]

S. 92C : Transfer pricing – Arm’s length price -Interest on loan to Associated enterprise- Rate of interest being charged in the country where the loan is received or consumed .

S. 80P : Co-operative societies -Interest on fixed deposits-Interest was held to be deductible [ S.80P(2)(a)(i)]

S.68: Cash credits- Share application money-Existing share holders- Confirmation and other details were filed -Addition as undisclosed was held to be not justified .

S. 68: Cash credits- Sale of shares – Offline transactions- Merely on the ground that six companies failed to reply to notices issued to them, addition was held to be not justified . [ S. 133(6)]