Monday, July 23, 2018

HC admits petition to decide if full bogus purchase to be disallowed instead of just 25%

IT : Question as to whether Tribunal erred in law and on facts of case in restricting addition to 25 per cent of value of alleged purchases after categorically finding it to be bogus, was to be admitted for consideration

from www.taxmann.com Latest Case Laws https://ift.tt/2mGQZ0N

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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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