Monday, September 2, 2019

Assessee could be asked to explain only 50% of amount paid to seller of land if he had joint holding; SLP dismissed

INCOME TAX: Where High Court upheld Tribunal's order holding that since assessee had purchased land jointly with another person, he could be asked to explain only 50 per cent of amount paid to seller of land for purpose of section 69C; SLP filed against decision of High Court was to be dismissed

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

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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...