Tuesday, February 5, 2019

Provision for payment of salary arrears not allowable if same hadn't crystalised during the year: ITAT

IT : Where assessee made provision for payment of arrears of salary on basis of revised pay scales approved by GOI in Sixth Pay Commission, since liability on account of payment of revised enhanced salary had not accrued and crystallized during relevant assessment year, impugned provision made on account of revised enhanced salary could not be allowed

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

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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...