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

TPO Activism

ByCA Gopal Nathani

Aug 5, 2023

Vide Case Reference: [2022] 447 ITR 585 (All) the instructions issued by the board u/s 119 need to be implemented truly and effectively. If not then the doors to the court get opened up.

Instruction No. 3 of 2003 admits to the role of the TPO limited to the determination of the arm’s length price in relation to the international transaction(s).

Anything and everything that he experiments to do such as an attempt to change the nature or classification of a transaction different to that in the taxpayer’s books of accounts is beyond his reach and therefore can be a matter of challenge in writ Court.