Saturday, December 22, 2018

Conversion of CCPSs into equity shares couldn't be considered as transfer within meaning of sec. 2(47): ITAT

IT: Conversion of cumulative compulsory convertible preference shares (CCPS) into equity shares could not be considered as transfer within meaning of section 2(47)

from www.taxmann.com Latest Case Laws http://bit.ly/2QMUxja

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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...