Monday, June 15, 2020

No relief from MAT provisions from AY when assessee was discharged by BIFR from purview of SICA

INCOME TAX: Where assessee was discharged by SICA and its net worth turned positive by virtue of implementation of revival scheme, assessee would be precluded from relief under section 115JB

from www.taxmann.com Latest Case Laws https://ift.tt/3e6B84v

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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...