Thursday, October 4, 2018

Machineries used for mining purpose by self as well as giving them on hire were eligible for higher dep.

IT: 'Dumper' and 'Volvo machines', used by assessee for his own mining purposes as well as giving them on hire, eligible for higher rate of depreciation

from www.taxmann.com Latest Case Laws https://ift.tt/2O4ADir

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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...