Monday, June 11, 2018

Power of officers to compound offences under Foreign Contribution (Regulation) Act: MoF

The Central Govt. has specified the officer who may, before institution of any prosecution under the Foreign Contribution (Regulation) Act, 2010, compound the offences on payment of specified amount under the Act.

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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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