Friday, January 4, 2019

Sec. 80DD needs amendment to allow relief if maturity sum given before death of insured person: SC

IT : The grievance of the petitioner, who has filed a PIL, is that benefit of Jeevan Aadhar policy, floated by LIC for benefit of persons with disability in terms of section 80DD, should not be deferred till the death of the life assured and it should be allowed to be utilised for the benefit of the disabled person even during the lifetime of the life assured. The Apex Court observed that the purpose of provision of section 80DD is to secure the future of the persons suffering from disability, n

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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