Thursday, July 26, 2018

Amendment to sec. 80-IB(10) which bars sale of house to related parties is prospective in nature

IT : Amendment brought on 1-4-2010 vide clause (f) to section 80-IB(10) barring sale of more than one flat in a housing project to related persons, is prospective in nature

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

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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...