Auditor liability: enhanced accountability requires auditors to refund fees and pay damages for misleading audit reports.
The Companies Bill, 2008 enhances auditor accountability by imposing eligibility and disqualification rules, prescribing appointment and vacancy procedures, and granting auditors broad rights of access and reporting obligations under accounting and auditing standards. It prohibits specified non-audit services, restricts signing and certification to the appointed auditor, requires compliance with auditing standards and possible additional reporting, and establishes penal and remedial measures including fines, imprisonment for knowing contraventions, refund of remuneration and payment of damages for misleading audit reports. Cost audit procedures and obligations for specified companies are separately provided.

Ways and Means Advance limit retained temporarily to address government cash flow mismatches from auction cancellations and expenditure bunching
The Ways and Means Advance limit was retained at an elevated temporary ceiling until December 31, 2008, after consultation with the government. The measure is time bound and intended to provide short term liquidity accommodation to meet unanticipated mismatches between government payments and receipts caused by cancelled auctions and the bunching of expenditure following a supplementary demand for grants.

Capital gains on slump sale: notional cost rules absent for the assessment year, so compensation not taxable as capital gains.
Whether transfer of a banking undertaking generated taxable capital gains for AY 1970-71 where compensation was received on nationalisation; the Supreme Court found that on the facts and circumstances it was not possible to compute capital gains and the compensation was not taxable as capital gains under the law then prevailing, and noted that a statutory notional cost mechanism for slump sales was introduced only after the relevant assessment year.

Foreign acquisition of immovable property: authorities must verify residency, visa eligibility before registering transfers.
Foreign nationals and non-resident entities face specific restrictions and permissions under the Foreign Exchange Management framework for acquiring immovable property in India: non-resident Indian citizens and persons of Indian origin may acquire property other than agricultural land, plantations and farm houses; foreign companies with an established business presence may acquire property necessary or incidental to that business subject to regulatory conditions; and foreign nationals who qualify as a person resident in India by reason of prolonged stay and demonstrable intention may acquire property, provided intention is evidenced by visa and supporting documents. State authorities must verify eligibility and may review prior registrations for compliance.