Thursday, November 28, 2019

No revision if detailed enquiries and a plausible view was taken while allowing deduction; SC dismissed SLP

INCOME TAX: Where High Court upheld Tribunal's order holding that AO had made detailed enquiries while allowing assessee's claim for deduction of business expenditure and, thus, revisional order passed by Commissioner was not sustainable, SLP filed against High Court's order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2qSf2iS

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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...