Saturday, April 4, 2020

Relaxation of limitation period under Fiscal laws, a bold step towards fighting Corona Pandemic

With COVID-19 cases on the rise in India, the nation has started witnessing second-round effects of the virus spread: a complete halt to economic activity. Consequently, clampdowns are increasing both within and outside India, which would curtail consumer mobility and lead to deferral of spending. Business reducing for airlines, hotels, malls, multiplexes and restaurants, is foreseen. In the services sector,

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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...