Saturday, September 25, 2021

Co. eligible to claim dep. amp; other exp. incurred on car even if it was purchased in name of director: ITAT

INCOME TAX : Where assessee company was not a shareholder in company from which it had received loan, such loan amount could not be treated as deemed dividend under section 2(22)(e) in hands of assessee merely because there were common shareholders in payer and payee company

from www.taxmann.com Latest Case Laws https://ift.tt/2WbFZh3

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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...