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

Service Of Notice- Dept. To Substantiate Evidence

ByCA Gopal Nathani

Sep 7, 2020

It was a case of a trust that denied its liability in respect of a demand notice issued by the revenue. The assessee preferred a review petition u/s 264 to the CIT and pleaded that there was no service of notice leading to the conclusion that the assessee was afforded no opportunity of being heard. The Madras High Court in the case of Venkat Maicken Trust v. ITO (107TAX391) held that when the assessee pleaded that he had not been properly served with any notice, it was for the department to place the relevant material to substantiate their plea that the assessee was served with proper notices.