https://www.taxtmi.com/caselaws?id=777616 HC held the share purchase and sale transactions did not constitute an impermissible avoidance arrangement under s96, finding no arrangement between parties nor the four statutory ingredients. The court noted commercial substance is governed by s97 but the Department failed to produce strong material showing lack of commercial substance or requisite arrangement in the petitioner's sale of shares. The writ petition was allowed and the order passed under s144BA(6) for AY 2020-21 was set aside. en-us Fri, 22 Aug 2025 00:00:00 +0530 Tue, 02 Sep 2025 08:01:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777616 HC held the share purchase and sale transactions did not constitute an impermissible avoidance arrangement under s96, finding no arrangement between parties nor the four statutory ingredients. The court noted commercial substance is governed by s97 but the Department failed to produce strong material showing lack of commercial substance or requisite arrangement in the petitioner's sale of shares. The writ petition was allowed and the order passed under s144BA(6) for AY 2020-21 was set aside. Case-Laws Income Tax Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777616