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

Corporate guarantee

ByCA Gopal Nathani

Oct 7, 2021

The Tribunal in [2021] 25 ITR (Trib)-OL 1 (ITAT[Ahm]) after admitting that in case of an associated enterprise the guarantee risk would not be as high as in case of an outsider held 5 percent to be a just and fair mark up over that charged by the bank for the corporate guarantee issued by the company to secure interest of its AE.