Monday, February 1, 2021

Discontinuance of income tax settlement commission, with immediate effect- whether requires a delibe

The Direct Taxes Enquiry Committee (commonly known as 'Wanchoo Committee') had recommended the settlement machinery only to ensure that the door for compromise for an errant taxpayer should not remain closed for ever

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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...