Monday, September 16, 2019

HC deleted additions as no incriminating material was found to prove that assessee had unexplained investments

INCOME TAX : Where no incriminating material was found during course of search with regards to valuation of property, assessee could not be charged of undisclosed expenditure in respect of investment in said property

from www.taxmann.com Latest Case Laws https://ift.tt/2LPf4ys

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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...