Wednesday, November 6, 2019

HC upheld ITAT's order allowing deduction towards provisions for warranty made on scientific basis

INCOME TAX : Where Tribunal, on basis of material on record, took a view that capital gain arising from sale of land was taxable as long term capital gain whereas same was taxable as short term capital gain in case of sale of building, no substantial question of law arose thereform

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

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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...