Thursday, October 4, 2018

Sec. 50C not applicable if assessee invested entire sale consideration in new house property u/s. 54F

IT : Where after sale of agricultural land, entire net consideration (whatever had physically received and accrued to assessee) had been invested, assessee would be eligible for deduction in respect of whole of capital gains

from www.taxmann.com Latest Case Laws https://ift.tt/2IDi9zF

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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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