Friday, September 18, 2020

Provisions of Sec. 50C not applicable if development rights contributed as capital in AOP

INCOME TAX : Provisions of section 50C could not be applicable if development rights in respect of buildings contributed as capital contribution to AOP

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