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

s80G

ByCA Gopal Nathani

Oct 23, 2024

In FDC case ruling by the Mumbai bench of ITAT in (2024] 119 ITR (Trib) 799 (ITAT[Mum]) which while setting aside the revision order by the Commissioner held that there is no statutory bar in claiming the deduction under section 80G of the Act if the CSR expenses are otherwise allowable as deduction under that section as being of the nature of DONATIONS TO CHARITABLE INSTITUTIONS.

Before there is any kind of bar imposed in future, which may be likely, it may be prudent to make a claim in past/present returns of income citing this view.