Friday, September 20, 2019

Loss incurred on sale of fertilizers bonds issued by Govt. was business loss if bonds were never held as investments

INCOME TAX: Expenditure incurred by assessee on replacement of various components of machinery due to normal wear and tear, was to be allowed as deduction under section 37(1)

from www.taxmann.com Latest Case Laws https://ift.tt/30e1COu
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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...