Saturday, September 15, 2018

No additions merely relying upon info. of DIT that assessee received accommodation entries

IT: Where addition was made to income of assessee on basis of information of DIT (Investigation) that assessee was part of list of several beneficiaries of bogus accommodation entries, since there was no specific finding against assessee in investigation wing report, impugned addition was unjustified

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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...