HC quashed reassessment on grounds which AO duly considered during original assessment

INCOME TAX : Where assessee had explained how it had computed income from house property after deducting interest for construction period and why 1/5th of construction period interest was deducible and had also given its justification of eligible claim under section 80-IB(10), reopening of assessment on ground that assessee had computed income from house property by claiming 1/5th of construction interest on notional basis and had wrongly claimed deduction under section 80-IB,INCOME TAX : Where assessee had explained how it had computed income from house property after deducting interest for construction period and why 1/5th of construction period interest was deducible and had also given its justification of eligible claim under section 80-IB(10), reopening of assessment on ground that assessee had computed income from house property by claiming 1/5th of construction interest on notional basis and had wrongly claimed deduction under section 80-IB,www.taxmann.com Latest Case LawsRead More

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