Thursday, November 22, 2018

No denial of exemption merely because sec. 54F has no specific mention of depreciable assets

IT: Exemption under section 54F is available even on short-term capital gains calculated as per section 50 on sale of depreciable assets held for more than 36 months

from www.taxmann.com Latest Case Laws https://ift.tt/2zl9Wwm

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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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