Thursday, December 6, 2018

No denial exemption in absence of proof that assessee introduced unaccounted money to earn LTCG

IT : Assessing Officer received information from DGIT (Inv.), Kolkata that some companies were engaged in business of issuing penny stocks for which there were large number of beneficiaries claiming bogus long term capital gain - Assessing Officer, based on said information,

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

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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...