Thursday, March 28, 2019

Books of account couldn't be rejected for one source of income while retaining same for other source

IT: Where assessee was maintaining a single set of books of account for two different sources of income, Assessing Officer could not reject books of account for one source while retaining same for other

from www.taxmann.com Latest Case Laws https://ift.tt/2U2uQNp

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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...