Wednesday, April 17, 2019

FMV u/s 50C can be used to compute capital gains only after giving opportunity of being heard to assessee

IT: It is only after hearing objections of assessee, that Fair Market Value of capital asset as per 'Guidance Value' can be determined by authorities

from www.taxmann.com Latest Case Laws http://bit.ly/2DfH6zO

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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...