Tuesday, October 22, 2019

No dep. on goodwill if block of assets ceases to exist on last date of previous year: ITAT

INCOME TAX: If written down value of asset is reduced to zero or block of asset is empty or it ceases to exist on last date of previous year, even though written down value of asset is not reduced to zero, no depreciation is allowable

from www.taxmann.com Latest Case Laws https://ift.tt/2qA5vMT
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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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