Thursday, September 20, 2018

ITAT remanded matter to ensure that sum deposited by 'Poonam Pandey' in bank was from sale of 'Sagwan Trees'

IT: Where AO made addition to assessee's income in respect of amount deposited in bank, in view of fact that assessee explained that said amount represented sale proceeds of trees received in cash and in support of her claim she produced land records evidencing growth of trees which ultimately stood cut, impugned addition was to be set aside and, matter was to be remanded back for disposal afresh

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

No comments:

Post a Comment

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...