Tuesday, February 16, 2021

Issue of possession certificate is irrelevant; Indexation benefit is allowable from allotment of property

INCOME TAX: For computing indexed cost of property, date to be reckoned is date of allotment of property and not date on which possession certificate was issued

from www.taxmann.com Latest Case Laws https://ift.tt/3u2LRFt

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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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