Thursday, September 23, 2021

No disallowance of interest if complete borrowed funds not utilized due to compulsion of binding arbitration award: ITAT

INCOME TAX : Interest received on borrowing invested as partner's capital represented by flats received under arbitral award would not be allowable

from www.taxmann.com Latest Case Laws https://ift.tt/3u4KcQ5
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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...