Thursday, December 20, 2018

Construction activities carried out by Nirmithi Kendra won't qualify for sec. 11 exemption

IT : Where State Government accredited Nirmithi Kendra, formed with objectives of generating and propagating innovative housing ideas, carried out construction activities in lieu of supervisory charges and said activity became its principal activity, exemption could not be allowed

from www.taxmann.com Latest Case Laws https://ift.tt/2QLl5kX

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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...