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

Keeping matters in abeyance is a lost exercise

ByCA Gopal Nathani

Dec 30, 2022

By and large it is now settled that Commissioner (Appeals) or the Tribunal or the Court is not obliged to keep a matter in abeyance only for the reason that one of the parties before it is in appeal on the identical question

/issue for another year or in another case barring any claim/declaration made under section 158A by the taxpayer in regard to pending question of law before any Court. This has been so emphasised by the Tribunal in (2022] 95 ITR (Trib) 549 (ITAT[Luck]