Thursday, January 24, 2019

No reassessment just to verify that info. received from VAT dept. related to hawala purchases; SLP dismissed

IT: SLP dismissed against High Court ruling that reassessment notice issued under section 148 just to verify information received by Assessing Officer from VAT Department relating to purchase made by assessee from hawala dealers, was not justified

from www.taxmann.com Latest Case Laws http://bit.ly/2FJoT09

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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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