Thursday, August 9, 2018

No sec. 10(23C) exemption to a profitable venture which was making huge profits year after year

IT : When assessee-institution made huge profits year after year, findings recorded by lower authorities that assessee was running a profitable venture, during impugned years and was not eligible to section 10(23C) exemption, was justified

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

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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...