Tuesday, August 27, 2019

SLP dismissed against ruling that AO was authorized to scrutinize entries in books of account before accepting same

INCOME TAX : SLP dismissed against ruling that it was always open to Assessing Officer to scrutinize material supporting books of account or entries in books of account before accepting same for purpose of assessment, and, therefore, Assessing Officer was justified in accepting two entries relating to profits and disregarding other two entries concerning losses

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