Saturday, June 27, 2020

SLP dismissed against ruling allowing claim of deduction of loss suffered due to fluctuation in forex

INCOME TAX : Where High Court upheld Tribunal's order allowing assessee's claim of deduction of loss suffered due to fluctuation in foreign exchange rate at time of recovering loan advanced to subsidiary company, SLP filed against said order was to be dismissed

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

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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...