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

Undue harassment to the assessee and chaos in administration of the tax laws

ByCA Gopal Nathani

Sep 9, 2022

Harping on the Principles of judicial discipline the High Court in 2022] 446 ITR 734 (Telangana) held that the orders of the higher appellate authorities should be followed unreversedly by the subordinate authorities. Unless there is a stay, the order or decision of the jurisdictional Tribunal is binding on all Income-tax authorities within its jurisdiction.

In this case the AO disallowed depreciation on goodwill despite a favourable order of the ITAT in taxpayers own case by stating that the Department has not accepted the said decision.