Friday, February 21, 2020

Disallowance of short term capital loss of shares was justified as Co. wasn't having any significant/real business

INCOME TAX : Where Assessing Officer received an information from Deputy Director (Investigation) that assessee was a beneficiary of bogus short-term capital loss on sale of shares, addition made under section 68 was justified

from www.taxmann.com Latest Case Laws https://ift.tt/2P96Eo0
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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...