Tuesday, August 28, 2018

Cancellation of auction of property as per direction of CBDT couldn't be held as arbitrary

IT: Where CBDT directed revenue to cancel earlier auction of property and hold fresh auction after re-determining a reserve price by taking into account fresh valuation report of DVO, cancellation of earlier impugned auction could not be said to be arbitrary

from www.taxmann.com Latest Case Laws https://ift.tt/2wimW4E

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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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