September 2021 – Daily Tax Reporter

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

Today's

Other Sources
Wrong reopening ......Read More

Yesterday's

Business
In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More

Business

Credit cards equate temporary loans — late payment interest held admissible

Sep 2, 2021 CA Gopal Nathani

The Delhi bench of ITAT in [2021] 24 ITR (Trib)-OL 631 (ITAT[Del]) held that interest on late payment of credit…

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Month: September 2021

Credit cards equate temporary loans — late payment interest held admissible