Wednesday, October 23, 2019

Legal expenses incurred by assessee in capacity of MD of Co. not deductible against his professional income

INCOME TAX: Where High Court upheld Tribunal's order holding that legal/settlement expenses incurred by assessee in his capacity of managing director of company 'M' could not be claimed as deduction against income earned by exercising legal profession in his individual capacity, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2p5bUzd

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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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