Friday, September 20, 2019

HC set-aside reassessment order as AO rejected assessee's objection without dealing with it

INCOME TAX : Where Assessing Officer passed a reassessment order against assessee withdrawing deduction allowed under section 54F on grounds that assessee owned more than one residential house at time of sale of original asset, since specific objection raised by assessee against reopening notice that he did not own more than one house at time of sale was overruled by Assessing Officer without dealing with it, impugned reassessment order was unjustified and was to be set aside

from www.taxmann.com Latest Case Laws https://ift.tt/2Noy2z5

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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...