Saturday, January 30, 2021

Provisions of Sec. 234D are applicable from prospective effect in absence of any express wording: Madras HC

INCOME TAX : Levy of interest under section 234D is only prospective i.e. from day it came into force i.e., 1-6-2003; thus, interest under section 234B is leviable only after assessment year 2004-05 prospectively

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