Friday, June 7, 2019

HC upheld revisional order as AO failed to verify correctness of books of account produced

IT: Where Assessing Officer did not apply mind to correctness of books of account produced before her except to note that books of account were produced and test checked, impugned revisional order passed under section 263 was to be upheld

from www.taxmann.com Latest Case Laws http://bit.ly/2EWVc9Y

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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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