Tuesday, March 17, 2020

Section 14A disallowances could not exceed amount of exempt income; SC dismissed SLP

INCOME TAX : Where in appellate proceedings, High Court opined that disallowance calculated under section 14A could not exceed value of investment itself, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/390nRXH
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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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