Tuesday, July 9, 2019

Sum received by partner over & above amount standing in her capital account liable to tax as capital gains

INCOME TAX : On retirement, excess sum paid over and above sum standing to credit of capital account of assessee partner was to be taxed as capital gain

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

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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...