Friday, November 23, 2018

Assessee couldn't challenge validity of sale of land by filing writ against reassessment notice

IT: In a petition challenging reassessment notice issued on ground that capital gain on sale of land had escaped assessment, Court could not consider validity of said sale transaction; assessee must submit to jurisdiction of Assessing Officer who alone would take final decision in this respect while framing reassessment

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

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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...