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

Additional window of opportunity for taxpayers

ByCA Gopal Nathani

Apr 27, 2023

The Jodhpur bench of the Tribunal in (2023] 103 ITR (Trib) 388 (ITAT[Jodh] in allowing the miscellaneous application held that non-adjudication of the legal ground is a mistake apparent from record as it goes to the root of the matter.

In this case the Tribunal has combined all the seven grounds and adjudicated the appeal of the assessee on the merits only and against the assessee and further omitted to address one legal ground of AO’s failure to cross verify the deponent in the affidavit presented before him which turned out to be beneficial in the assessee.

This decision give an additional window of opportunity to the taxpayers to go for rectification against the orders of AO and CIT(A) should they omit to adjudicate the legal contentions made during the proceedings.