CORPORATE AND PROFESSIONAL UPDATE MAY 5, 2016
TODAY UPDATES: DIRECT TAX: IT: The cost incurred by the previous owner shall be adopted while computing capital gains in the hands of the assessee – benefit of indexation should accordingly be provided w.e.f. 01 APR 1981 – P.M. Rungta (HUF) Vs. ITO (2016 (5) TMI 67 – ITAT Mumbai) IT: Exemption on the principle of mutuality claimed – …