Monday, February 11, 2019

No penalty if there was reasonable cause in accepting loans in contravention of sec. 269SS; SLP dismissed

IT : SLP dismissed against High Court ruling that receipt of deposits/loans received through journal entries is in breach of section 269SS

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

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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...