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

New claim new possibilities

ByCA Gopal Nathani

Dec 12, 2020

The Madras High Court in 16ITR-OL 1 held that appellate authorities like CIT (A) and ITAT are bound under the law to accept new claims not raised in original or revised return. It goes without saying that the facts necessary for considering such claims are on record file. New claim based on record can be made before CIT(A)/ITAT/CIT ( s. 264 proceedings) also vide 367ITR85, 394ITR247, 75 taxmann.com 298. Also a contention not requiring fresh facts or documents can be taken up in appeal vide 9ITR- OL 774. Yet further both CIT (A) and the Tribunal may lawfully admit fresh evidence vide 73ITR (Trib) SN 35.