Saturday, February 29, 2020

No addition towards notional rent if property remained vacant due to obstruction caused by ongoing metro project

INCOME TAX : Where assessee owned property which remained vacant throughout relevant year due to obstruction caused by ongoing Metro Project just before entrance of premises, no addition on account of notional rent was warranted

from www.taxmann.com Latest Case Laws https://ift.tt/38fm9lf

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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...