Thursday, July 11, 2019

AO was right in denying interest & salary paid to partners as firm failed to comply with sec. 142(1) notice: ITAT

INCOME TAX: Where assessee firm failed to comply with notices issued under section 142(1), Assessing Officer was right in framing assessment order under section 144 denying allowance of interest and salary paid to partners by taking support of provisions of section 184(5)

from www.taxmann.com Latest Case Laws https://ift.tt/2xJuPjI
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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...