Wednesday, August 22, 2018

No sec. 263 revision to tax 'passenger service fee' received by assessee as same was debatable issue

IT: Issue as to whether or not security component of passenger service fee received by Airport constituted income being debatable, Commissioner was not justified in invoking revisional jurisdiction to make addition

from www.taxmann.com Latest Case Laws https://ift.tt/2OU96MA

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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...