Thursday, January 10, 2019

No reassessment on change of opinion that unutilized CENVAT credit was to be included in valuing closing stock

IT: AO could not initiate reassessment proceedings merely on basis of change of opinion that unutilised CENVAT credit was to be included in valuation of closing stock

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

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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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