Wednesday, July 4, 2018

ITAT couldn't levy minimum penalty other than what was prescribed in statutory provisions: HC

IT : Even though monetary limits to file appeal before High Court cannot be applied to a writ petition filed by revenue, yet such liberty to file petition cannot be lightly granted as same has to be entertained only when judgment of Tribunal is likely to have long-term or cascading effect or would result into gross miscarriage of justice

from www.taxmann.com Latest Case Laws https://ift.tt/2KKQH30

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

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...