Friday, September 24, 2021

Courts can’t issue omnibus Order to reform the system on basis of petition raising concern over rising number of NPAs

COMPANY LAW : Where petitioner filed writ petitions referring to a general malaise in economy of inability to recover debts due to banks and financial institutions, particularly of nationalised bodies,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000317111/courts-can’t-issue-omnibus-order-to-reform-the-system-on-basis-of-petition-raising-concern-over-rising-number-of-npas.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...