Wednesday, July 10, 2019

AO couldn't convert survey into search & seizure without recording satisfaction

INCOME TAX: Survey at residential premises of assessee could not have been converted into search and seizure without tax authorities recording that assessee had failed to co-operate or there was a suspicion that income had been concealed by assessee warranting resort to process of search and seizure

from www.taxmann.com Latest Case Laws https://ift.tt/2XULn7a

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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...