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

Do not forget to include notional value of vacant property in certain situations

ByCA Gopal Nathani

Nov 26, 2021

The annual value of the properties if they are more than one which remain vacant throughout the previous year would be assessable at their notional value as if such house or houses had been let reaffirms the High Court in [2017] 8 ITR-OL 511 (P&H).