Saturday, December 29, 2018

Attachment order under Money Laundering Act was null & void as property wasn't acquired out of proceeds of crime

FEMA & BANKING : Where properties attached by Adjudicating Authority under PMLA were mortgaged with bank and were not acquired out of any proceeds of crime, attachment was contrary to law and null and void

from www.taxmann.com Latest Case Laws http://bit.ly/2BKVcYc
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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...