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

non binding decision of the non-jurisdictional High Court

ByCA Gopal Nathani

Sep 23, 2022

The bench of the Tribunal in (2022] 28 ITR (Trib)-OL 737 (ITAT[Agra] in a wake up call order caller for immediate redressal by the Board in the handling of appeals by NFAC when non binding decision of the non-jurisdictional High Court is followed even when binding Jurisdictional High Court judgments

on the subject is available.

This matter pertained to disallowance of the payments of employees contribution to the Employees’ State Insurance Corporation and the provident fund, on the ground that they had not been credited to employees account on or before the due date by the assessee.

The Bench noted favourable decision of Allahabad High Court while the AO chose adverse view of the Gujarat High Court.