Friday, May 25, 2018

Sum received by partner on retirement from firm is exempt from capital gain tax: Bombay HC

IT : Amount received by retiring partner on retirement from firm on account of goodwill will not be subjected to tax as capital gains in his hands

from www.taxmann.com Latest Case Laws https://ift.tt/2IOb1E4

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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