Wednesday, February 6, 2019

ITAT remanded matter back as record of proceedings before AO didn't mention any appearance of assessee

IT : Where record of proceedings before Assessing Officer did not mention any appearance of assessee and assessment records were not made available before Bench, issue of undervaluation of closing stock was to be remitted back to Assessing Officer for re-examination

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

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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...