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

New window opened January 1 to file/update return for AY 2023-24 with additional 25% taxes

ByCA Gopal Nathani

Jan 3, 2024

For those who missed out December 31 deadline to file/ revise file taxes for AY 2023-24 here is another opportunity to them to straighten their taxes .

This window is only to collect unpaid taxes with additional tax and not for grant of any refunds.

To maintain continuity there is another round of opportunity.

A little care in filing up updated form may be critical to filing. Make sure to fill out additional tax field.