Wednesday, September 19, 2018

No sec. 69A additions if disputed amount was disclosed by assessee under Income Declaration Scheme, 2016

IT: Where Assessing Officer held share application money received by assessee from one GL as undisclosed cash receipt of assessee, since said amount was disclosed by said GL under Income Declaration Scheme and same was accepted by department, pursuant to which, GL had paid penalty, assessing same amount in hands of assessee would amount to double taxation

from www.taxmann.com Latest Case Laws https://ift.tt/2OyUq5W

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...