Friday, February 21, 2020

Brought forward losses were allowed to be set off against sec. 68 additions up to 31-3-2017 only

INCOME TAX : Amendment brought in section 115BBE(2) by Finance Act, 2016 whereby set off of losses against income referred to in section 68 was denied, would be effective from 1-4-2017

from www.taxmann.com Latest Case Laws https://ift.tt/3bX8xy3

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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...