The Income Tax Appellate Tribunal (ITAT), Mumbai bench recently rejected Bollywood singer Sonu Nigam’s plea by holding that the self-occupied property cannot enter into the block of a depreciable asset. The assessee sold a flat for a sum of Rs. 161,75,480/- out of which the appellants 50% share was Rs.80,87,740/-. The Assessing Officer observed that […]
The post Self-Occupied Property cannot enter into the block of Depreciable Asset: ITAT rejects Sonu Nigam’s Plea appeared first on Taxscan | Simplifying Tax Laws.
from Taxscan | Simplifying Tax Laws http://bit.ly/2M9JW00
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