1

Commissioner (A) is not empowered to enhance income a new source of income vide 82ITR 9Trib) 176
1

It is assessee’s choice to select a method for determining FMV of shares vide 81 ITR (Trib) (SN) 78
1

No TP adjustment of trade receivables in case of a debt-free company vide 81ITR (Trib) (SN) 94
1

To accord registration as a charitable institution under income tax dominant purpose must be charitable and satisfies the conditions laid down us 2(15) vide 426ITR108 despite having non charitable ancillary objects meant to achieve the dominant purpose
1

Transactions with dubious entities is reason enough for case reopening vide 421ITR624

Display of Hoardings

ByCA Gopal Nathani

Sep 2, 2020

The Calcutta High Court in the case of Mukherjee Estate ( P ) Ltd. v. CIT (113TAX313) held that putting up of hoarding for advertisement is neither let out of any building nor the land appurtenant thereto and any such income would be assessable under the head income from other sources. In this case the assessee permitted some companies to display their boards on hoarding. However in case the agreement is drafted to let out the roof area then it may be possible to bring such charge under the head income from house property.