Friday, September 10, 2021

Taxation regime should be convenient amp; simple to achieve maximization of compliance: Apex Court

INCOME TAX : In taxation regime, there is no room for presumption and nothing can be taken to be implied. The tax an individual or a corporate is required to pay, is a matter of planning for a tax payer and the Government should endeavour to keep it convenient and simple to achieve maximization of compliance

from www.taxmann.com Latest Case Laws https://ift.tt/2X5auWD

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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...