Monday, February 8, 2021

Assigning incomes to an Israel Co. without assigning corresponding obligations is an agreement for tax avoidance: AAR

INCOME TAX : Assignment of mere receipts from an Indian company to Israel based Applicant by its US based affiliate without assigning corresponding obligations was prima-facie for avoidance of tax; application for Advance Ruling was to be rejected

from www.taxmann.com Latest Case Laws https://ift.tt/3aIafn9
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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...