Saturday, May 18, 2019

Black Money Act has no retro-effect; no action against VVIP Chopper Scam accused ‘Gautam Khaitan’: HC

IT : Government can not exercise powers under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, prior to statute itself coming into forcex

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000188281/black-money-act-has-no-retro-effect-no-action-against-vvip-chopper-scam-accused-‘gautam-khaitan’-hc.aspx

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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...