Wednesday, May 20, 2020

Golf Course developed on land to be considered as ‘Plant & Machinery’; eligible for depreciation: ITAT

INCOME TAX : Depreciation was to be allowed on cost of golf course developed on land by considering same as "plant and machinery"

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194562/golf-course-developed-on-land-to-be-considered-as-‘plant-machinery’-eligible-for-depreciation-itat.aspx

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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...