Friday, March 12, 2021

HC dismisses writ plea seeking relief in relation to debt where petitioner continuously defaulted in repayment

FEMA, BANKING amp; INSURANCE : Where defaults by petitioners dated back to 2018 and defaults continued over a period of two years prior to outbreak pandemic, such cases could not be those which would be entitled to benefits under policies of RBI, which were meant to give some relief during pandemic and, therefore, petition filed by petitioners seeking relief in relation to payment of debt to respondent-ILamp;FS was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2OINTKW

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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...