Saturday, August 21, 2021

Assets installed at collection centers of laboratory situated at multiple locations eligible for additional dep.: ITAT

INCOME TAX : Where assessee company, engaged in business of providing referral laboratory services and diagnostic services etc., had set up various collection centers at multiple locations, since such collection centers were also integral part of whole process of business of diagnostic and report making facilities of assessee, additional depreciation was to be allowed on assets used in those collection centres

from www.taxmann.com Latest Case Laws https://ift.tt/2XER4aJ

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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...