Monday, March 1, 2021

Requirement of taking “prior” permission of RBI before executing sale deed or gift deed by a non-resident is mandatory

FEMA, BANKING amp; INSURANCE : Section 31 of FERA Act is mandatory and transaction in contravention thereof is void or unenforceable

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000198521/requirement-of-taking-“prior”-permission-of-rbi-before-executing-sale-deed-or-gift-deed-by-a-non-resident-is-mandatory.aspx

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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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