Thursday, January 24, 2019

Claim of sec. 54F deduction raised for first time before High Court couldn't be entertained

IT: Where land in question claimed by assessee to be agricultural in nature was falling within 5 kilometers of municipal limits, same was to be included in definition of 'capital assets' and would be chargeable to tax

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

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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...