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

Wrong initiation

ByCA Gopal Nathani

Nov 4, 2022

When in the assessment order, no specific finding had been found recorded by the AO as to whether it was a case of concealment of income or a case of furnishing of inaccurate particulars of income the Tribunal in ( 2022] 29 ITR (Trib)-OL 45 (ITAT[Del]) held it as a case of non-application of mind and unjustified penalty.