Saturday, December 1, 2018

Imposition of penalty by tribunal under FEMA dismissed as it failed to produce evidences

FEMA: Order passed by Adjudicating Officer imposing penalty on appellant for having failed to submit documentary evidence as proof of actual imports without observing principles of natural justice was null and void ab-initio, hence, penalty imposed would be untenable

from www.taxmann.com Latest Case Laws https://ift.tt/2KJFTD5

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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...