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

Appeal and cross appeals to be heard and decided together

ByCA Gopal Nathani

Oct 18, 2023

In setting a direct and binding precedence for Income Tax Appellate Tribunal the Bombay High Court in Linklaters case (2023) 458ITR 110 while keeping aside the merits in this case, framed a substantial question of law on ‘whether the appeals and cross appeal from the same order to be consolidated and heard in one go’, and answered it in affirmative. Hence ITAT appeals and cross appeals ought to be fixed for the same day in future and to be decided together. Miscellaneous application may be filed in case this rule is not followed by the ITAT.