Tuesday, December 17, 2019

SetCom was required to consider only one application if two parties had filed two applications for one transaction

INCOME TAX: Where two parties to a single transaction of accommodation entry filed separate settlement applications for same income, settlement order passed in case of one party is to be considered in case of other party to avoid double Taxation

from www.taxmann.com Latest Case Laws https://ift.tt/2sBB1Lg

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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...