Indore : An assessee definitely gets benefit at the time of scrutiny if he presents his case with entire facts and documents. However, if there are two views of the courts on the provisions of the Income Tax Act, then the view favoring the assessee should be accredited, said senior CA Govind Agrawal while addressing a workshop on Income Tax Scrutiny here on Monday at TPA Hall, Aaykar Bhawan.
The workshop was jointly organised by Tax Practitioners Association and CA Indore Branch. CA Agrawal said that a person can’t get the benefit of exemption under the Gift Tax on the gifts received in the marriage of his son or daughter. However he is liable to get the benefit if the gift is received in his own marriage. In terms of the sell-purchase of the real estate, the different provisions are being implemented on investor and trader.
In such a case by the proper tax planning the income tax can be saved in ample amount. CA Agrawal presented provisions on scrutiny and several practical aspects through the power point presentation. Earlier, CA Anil Khandelwal, president TPA gave the welcome address.
