Thursday, July 25, 2019

SetCom couldn't proceed application if assessee offered additional income during pendency of proceeding

INCOME TAX: When assessee during pendency of its application under section 245C, made a voluntary offer of additional income i.e. income in excess of what was disclosed in application, Settlement Commission should not have proceeded with assessee's application

from www.taxmann.com Latest Case Laws https://ift.tt/2OdV6Sm

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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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