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

No TDS on Export commission

ByCA Gopal Nathani

Dec 1, 2022

Finally in a decision rendered by the Supreme Court in Vedanta ( Bby) and MATRIX CLOTHING PVT. LTD. (Del) case [2022] 448 ITR 732 (SC) it is held that payment of export commission to foreign agents is not tax deductible. Both SLPs filed by the department stood dismissed bringing an end to this subject.

There is a finding in this case that the services rendered were rendered outside India and that the agents were not indian residents.