Thursday, November 7, 2019

Lessor cash found in search proceedings couldn't be basis for sec. 68 additions

INCOME TAX : If in search, actual cash in hand was found to be lesser than that in account books, same could not be ground for addition

from www.taxmann.com Latest Case Laws https://ift.tt/2PU7czq
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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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