Monday, April 8, 2019

Vodafone gets deduction under sec. 80-IA on interest income earned from AE

IT : Where assessee, engaged in telecommunication business,was eligible for deduction under section 80-IA, net interest income earned by it i.e. difference of interest rate at which loan was taken from bank and subsequently it was advanced to a sister concern, was also includible while computing amount of deduction

from www.taxmann.com Latest Case Laws http://bit.ly/2I6X6Iu

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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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