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

Compensate taxpayer for costs of litigation for failure to follow strict procedures of law

ByCA Gopal Nathani

Aug 10, 2022

The High court in [2022] 20 ITR-OL 1 (Guj) held that the new regime of section 148A should be strictly followed so as to make it meaningful. In this case the reply of the assessee has not been considered while passing order under clause (d) of section 148A which lead to remand for fresh passing of order.

In this kind of scenario the taxpayer is put to hardship with another round of litigation and costs for which he must be compensated no matter whether he has proceeded to file a writ or face reassessment and appeal.

An appropriate provision to compensate the taxpayer is most desired as otherwise it is empty formality to hold that the new regime of section 148A should be strictly followed.