Thursday, August 13, 2020

Commission paid to directors for promoting sales allowable if it was in terms of board resolution: ITAT

INCOME TAX: If directors, in terms of Board resolution, were entitled to receive commission for rendering services to company and if it was in terms of employment on basis of which they had been rendering services, then such remuneration/commission would be part and parcel of salary

from www.taxmann.com Latest Case Laws https://ift.tt/33VMN43
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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...