Thursday, July 19, 2018

AO was eligible to carry out preliminary inquiries before issuing notice of reassessment

IT : There are no fetters on Assessing Officer carrying out preliminary inquiries even before issuance of notice of reopening in order to collect information on basis of which, he may either form a belief that income chargeable to tax had escaped assessment or abandon any further inquiry, upon being satisfied that no such belief could be formed

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

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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