Monday, September 27, 2021

Execution of sale deed of new house within limitation period is sufficient to claim benefit of sec. 54F relief: HC

INCOME TAX : Where sale deed was executed in favour of assessee within a period of three years from date of transfer of shares, finding recorded by Tribunal that payments were made prior to one year before date of transfer of shares and, therefore, assessee was not entitled to claim exemption under section 54F was perverse

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

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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...