- The Delhi ITAT has held that CA's opinion does not necessarily make claim "bona fide" and penalty can be levied u/s 271(1)(c)
- The Hyderabad ITAT has held that despite Surrender After Detection, Penalty Can be Waived u/s 271 (1) (c)
- The Delhi ITAT has held that Long-term & short- term gains from PMS transactions are taxable as business profits.
- The Bangalore ITAT has held that gains arising from "business assets" (fixed assets used for business) are not eligible for set-off against brought forward business loss u/s 72.
- The Gujarat High Court has held that deduction u/s 80-IB (10) for "Housing Project" is eligible even if Developer is not "owner" of land.