Tuesday, July 17, 2018

Submission of evidence during seizure isn't necessary; can be done in assessment proceeding as well: HC

IT: Where in course of block assessment, assessee brought on record various documents to establish that jewellery seized from him actually belonged to his employer, impugned addition made in respect thereof merely on ground that assessee in course of statement made under section 132, had admitted that said jewellery belonged to him, could not be sustained

from www.taxmann.com Latest Case Laws https://ift.tt/2NTE6g2

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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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