Friday, August 3, 2018

No penalty just because assessee agreed to additions made by AO applying deeming fiction of sec. 50C: HC

IT: Application of sub-section (1) of section 50C cannot automatically give rise to penalty proceedings

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

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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...