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

Taxation of Oman Resident

ByCA Gopal Nathani

Sep 7, 2020

The Authority for Advance Ruling (AAR) in petition no. 34(107TAX610) held that the applicant, an Oman resident who is not liable to pay any income tax in Oman at all, couldn’t get the advantage of DTAA between Oman and India. The AAR followed its earlier ruling in the case of Cyril Eugene Pereira of UAE (105TAX273/239ITR350).