Monday, June 4, 2018

LO of International Zinc Association not performing specific services for its members not taxable in India: AAR

IT/ILT : Where applicant, Belgian company registered as an 'International Non-Profit Association', with approval of RBI, set up a liaison office in India, for education, on importance of zinc fertilizers as Zinc deficiency is a wide spread problem in agricultural soils harming crop productivity and nutritional quality, and also to promote Zinc as an agent to galvanize steel to increase its strength and durability, since applicant is a not-for-profit organization and works for benefit of its memb

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...