Monday, December 16, 2019

Info. received from DDIT (Investigation) regarding tax evasions was sustainable reason to conclude reassessment

INCOME TAX : Where Assessing Officer received information from DDIT (Investigation) regarding tax evasion by clients/members of NMCE Exchange by misusing this platform, and one such record found was related to assessee, same would be sustainable reason to conclude that taxable income had escaped assessment

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

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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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