Assessment – Page 13 – Daily Tax Reporter

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Commissioner (A) is not empowered to enhance income a new source of income vide 82ITR 9Trib) 176
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It is assessee’s choice to select a method for determining FMV of shares vide 81 ITR (Trib) (SN) 78
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No TP adjustment of trade receivables in case of a debt-free company vide 81ITR (Trib) (SN) 94
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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
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Transactions with dubious entities is reason enough for case reopening vide 421ITR624

Today's

Business
In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More

Yesterday's

Exemptions
House purchase exemption ......Read More

Assessment

Stay application- Learning for the Assessing Officer

Sep 2, 2020 CA Gopal Nathani

In Bhubneshwar Stock Exchange v. Union of India (2004) 137TAX 318 the demand in dispute related to issues that had…

Assessment

Order u/s 210(3) – Requiring payment of advance tax

Sep 2, 2020 CA Gopal Nathani

In Punjab Tractors Ltd. v. Asstt. CIT (2004) 137TAX211 the assessing officer demanded advance tax on the basis regularly assessed…

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