Wednesday, November 21, 2018

SC dismissed SLP against HC's ruling justifying concealment penalty on dep. claim made on non-existent assets

IT : SLP dismissed against High Court ruling that where assessee claimed depreciation on non-existent assets, penalty under section 271(1)(c) was to be levied for filing inaccurate particulars of income

from www.taxmann.com Latest Case Laws https://ift.tt/2qWlWA1

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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