Saturday, June 5, 2021

Amendment by FA 2012 to include HUF within scope of Sec. 54B relief is clarificatory in nature: ITAT

INCOME TAX : Where assessee HUF within two years of sale of agricultural land, had invested amount and purchase of land in accordance with requirement of section 54B it would be entitled to benefit of section 54B.

from www.taxmann.com Latest Case Laws https://ift.tt/3cjvey9

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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...