Thursday, December 27, 2018

ITAT slams AO for not allowing bad debts claim in case co-operative bank didn't have any rural branches

IT : A co-operative bank is entitled to claim deduction of bad debts provided in first part of section 36(1)(viia)(a) being 7.5 per cent of total income even in absence of rural branches

from www.taxmann.com Latest Case Laws http://bit.ly/2LC4A59

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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...