Thursday, March 14, 2019

Income was taxable in capacity of individuals though investment in firm was made out of HUF funds by its member

IT: Where Assessing officer computed assessee's income from running a bus on estimate basis, in view of fact that assessee's son was also plying a bus and, in whose case, deduction of certain expenses was allowed while computing income from plying bus, in absence of any change in circumstances,hod of computation of income in assessee's case also

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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...