Saturday, June 27, 2020

ITAT quashed reassessment as no TDS was required on reimbursement of exp. to foreign associate

INCOME TAX: Where DCIT found nature of payment by assessee to associate concerns based in foreign countries was merely reimbursement of expenses and, hence, no TDS was to be made but DCIT proceeded with reassessment on ground only to safeguard interest of Revenue, such reassessment was to be quashed

from www.taxmann.com Latest Case Laws https://ift.tt/2VlKr9e

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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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