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

Duty of AO in the conduct of reassessment

ByCA Gopal Nathani

Jul 5, 2023

In the matters of reopening the AO is duty bound to provide copy of the satisfaction note and order of the Principal Commissioner, who granted approval to issuance of the notice with the note of the Assessing Officer in support of his request of approval. So much so that the Court in (2023] 455 ITR 92 (Bom) held that non furnishing of the same will be a contravention of the provisions of article 14 of the Constitution of India.