Thursday, May 20, 2021

Co. offering tax on construction contract following completed contract method duly valid prior to 01-04-2017: ITAT

INCOME TAX : Completed contract method and percentage complete method are both duly recognised methods of accounting under construction contracts.

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

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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...