Wednesday, July 24, 2019

SLP dismissed against HC's order deleting sec. 68 additions as assessee proved genuineness of share transaction

INCOME TAX: Where High Court upheld Tribunal's order deleting addition made under section 68 in respect of share application money received by assessee on ground that assessee had brought on record sufficient documentary evidence to prove identity and creditworthiness of share applicants, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/30Q5rp2

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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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