Wednesday, August 7, 2019

Non-disclosure of income exempt from tax couldn't be treated as case of escaped income

INCOME TAX : Where gain from sale of shares by assessee was exempt from tax in terms of section 10(38), mere non-disclosure of such gain on sale of shares in return of income would not mean that capital gain from sale of shares had escaped assessment

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

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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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