Friday, February 21, 2020

Import of diamonds for re-export would be in nature of services for claiming section 10AA deduction

INCOME TAX: Assessee engaged in import of diamonds for re-export from SEZ unit, same being trading activity falling within ambit of 'services' as per SEZ Rules, was entitled to deduction under section 10AA

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

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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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