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

Hospital running own pharmacy entitled to exemption on pharmacy incomes

ByCA Gopal Nathani

Dec 12, 2023

Running of hospital by the society in (2023] 33 ITR (Trib)-OL 797 (ITAT[Raipur]) was considered by the AO as an activity for which exemption under section 11 was granted, minus the activity of purchase and sale of medicine by hospital which was considered as business. The bench of the Tribunal held that such activity shall also be covered by the main charitable activity of the assessee-society, i. e., “medical relief” no matter it yield substantial profits and there shall therefore be no further requirement to maintain separate set of books for the same .