Saturday, January 19, 2019

Provisions of sec. 13(2)(c) couldn't be invoked in absence of findings that amount paid by trust was excessive

IT : In order to invoke provisions of section 13(2)(c), it is essential to prove that amount paid to person referred to in sub-section (3) of section 13 is in excess of what may be reasonably paid for services rendered

from www.taxmann.com Latest Case Laws http://bit.ly/2VZEv4N

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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...