S. 2(22)(e) : Deemed dividend-Business nexus and business exigency of entire transaction proved-Advance could not be construed as the receipt of dividend.

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-Land not situated within jurisdiction of Municipality-Population of village was 907 persons as per latest published census of 2011-Long term capital gains on sale of land cannot be taxed as capital gains. [S. 2(14)(iii)(a), 45, 54F]

S. 144B : Faceless Assessment –Show cause notice less than 7 days -Personal hearing through video conference is not granted – All replies are considered – Alternative remedy – Writ petition is dismissed .[S,143(3), Art. 226 ]

S. 68 : Cash credits – Purchase and sales through book entries with sub -broker -Commodity exchange – Futures Speculative transactions- Forward market commission-Accommodate bogus loss- Transaction with sub -broker – Addition is deleted .

S. 11 : Property held for charitable purposes – Belated filing of return – Denial of exemption is not justified- Addition made under Section 143(1)(a)(ii) of the Act is deleted – Directed to accept the returned income- Circular of CBDT is binding on Revenue .[ S. 12,12A(1)(b),119, 139(1),139(4) ,143(1)(a)(ii)]

S. 119 : Central Board of Direct Taxes- Circular – Condonation of delay of 1585 days – Revised return – Principle of natural justice -No personal hearing was granted – In the absence of any provision to the contrary, such principles should be read into the unoccupied interstices of a statute- Order of rejection is set aside and directed to pass the order after granting the personal hearing . [ S.119(2)(b), 139(5) Art. 226 ]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record – Review of order is not permitted – Writ petition is dismissed . [ Art. 226 ]

S. 153C : Assessment – Income of any other person – Search and seizure – Satisfaction note pertained to non-searched entity and material which was alluded to pertained to assessment year 2019-20 only- Notice pertaining to AYs 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21 is quashed and set aside. [S. 132 , Art. 226 ]

S. 147 : Reassessment –With in four years-Accommodation entries – Sale of shares – All material with respect to transaction at time of original assessment – Assessing Officer was satisfied with the explanation- Change of opinion – Reassessment notice and order disposing the objection is quashed . [ S. 68, 132, 148 , Art. 226 ]

S. 132: Search and Seizure –Strictures – Warrant issued – Search premises left blank – Witnesses from different place – Panchnama – Search invalid – Documents to conduct search fabricated- An income tax inspection and/ or investigation would be permissible only in respect of a past event but not for possible future contingencies- Department is directed to refund cash of Rs.5.00 crores to assessee with interest at 12% p.a. along with costs of Rs.20,000. [ S.132A, 132B, Art. 14, 226 , 300A ]