Friday, January 29, 2021

Benefit of LTC cannot be disallowed just because travel itinerary include overseas travel: Mumbai ITAT

INCOME TAX : Where employee has actually travelled, as a part of composite itinerary involving a foreign sector as well, to destination in India, whatever may be the position with respect of taxability of such a leave travel concession in hands of employee, assessee-employer cannot be faulted for not deducting tax at source from leave travel concession facility allowed by him to employees

from www.taxmann.com Latest Case Laws https://ift.tt/3opV5rf

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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...