Thursday, January 24, 2019

AO couldn't open reassessment merely relying upon audit objection regarding sec. 14A disallowance

IT: Reopening of assessment not based on satisfaction of Assessing Officer but on audit objection regarding disallowance under section 14A could not be sustained

from www.taxmann.com Latest Case Laws http://bit.ly/2CEU5cX

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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...