Monday, March 25, 2019

SetCom rightly rejected application if assessee failed to offer any explanation about nature of exp. claimed: SC

IT : SLP dismissed against High Court ruling that where assessee filed an application before Settlement Commission claiming certain expenditure as 'speed money' for getting clearances from different authorities, since assessee failed to offer any explanation regarding nature of said expenses, Commission rightly rejected assessee's application on ground that it had not come with clean hands

from www.taxmann.com Latest Case Laws https://ift.tt/2TU67e2

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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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