Tuesday, October 22, 2019

No sec. 68 additions on ground that shares were issued at premium once genuineness of transaction was established

INCOME TAX: SLP dismissed against High Court ruling that once genuineness, creditworthiness and identity of investors were established, no addition could be made as cash credit on ground that shares were issued at excess premium

from www.taxmann.com Latest Case Laws https://ift.tt/32BFydL

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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...