Wednesday, March 17, 2021

Waiver of interest on demand can’t be granted if assessee doesn’t fulfil prescribed conditions: High Court

INCOME TAX : Where conditions for waiver of interest under section 220(2A) were not complied with by assessee nor assessee could show to have any financial hardship, there would be no waiver of interest

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000197836/waiver-of-interest-on-demand-can’t-be-granted-if-assessee-doesn’t-fulfil-prescribed-conditions-high-court.aspx

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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...