Wednesday, September 2, 2020

Amendment to Sec. 115BBE restricting set off losses against deemed income is applicable prospectively: Madras HC

INCOME TAX: Amendment brought in sub-section (2) of section 115BBE by Finance Act, 2016, whereby set off of losses against income referred to in section 68 was denied, would be effective from 1-4-2017

from www.taxmann.com Latest Case Laws https://ift.tt/3lGx7bd
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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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