Thursday, November 21, 2019

Reassessment initiated just on the basis of audit objection regarding disallowance of u/s 40(a)(ia) unjustified

INCOME TAX: Reopening of assessment not based on satisfaction of Assessing Officer but only on basis of audit objection regarding disallowance under section 40(a)(ia) for non-deduction of TDS on labour charges, etc., paid by assessee, was unjustified

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

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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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