Saturday, June 15, 2019

SLP dismissed against HC's order allowing sec. 10AA claim as there was no case of reconstruction of business

IT: Where High Court upheld Tribunal's order allowing assessee's claim for exemption under section 10AA on ground that only a part of capital was received from a partner's proprietorship concern and huge amount of fresh capital had also been introduced and, thus, it was not a case of reconstruction of business, SLP filed against said order was to be dismissed

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

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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...