Monday, September 16, 2019

Gift received by partnership firm from its member being HUF was capital receipt not chargeable to tax

INCOME TAX: Amount received by assessee-firm as gift from 'HUF', being its member, was a capital receipt not exigible to tax

from www.taxmann.com Latest Case Laws https://ift.tt/2ZYX2nk

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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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