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

31 DECEMBER 2023

ByCA Gopal Nathani

Dec 29, 2023

Is also a last opportunity to taxpayers to revise their income tax returns for AY 2023-24 if and only if they have omitted to include any incomes, bank etc no matter the size thereof !

To double check they may additionally log into their income tax account, look for any pointer in e-compliance/e-campaign section in pending actions tab on the dashboard.

Also this day is last of the seasons-“ Mann Ki Baat’ of our visionary Prime Minister , not to be missed !!

Happy New Year