Wednesday, September 5, 2018

No additions without seeking additional evidence if evidence submitted by assessee was insufficient

IT: Where there was many co-owners of purchased property and assessee-submitted bank certificate as source of fund, Commissioner (Appeals) could not make addition of unexplained investment without seeking supporting evidences if they found assessee's evidence as insufficient

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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...