Wednesday, January 8, 2020

HC deletes sec. 69B additions as dept. failed to prove under statement of sale consideration for land purchased

INCOME TAX: Where land purchased by assessee was different from that mentioned in seized document and department could not prove understatement of sale consideration, addition made under section 69B on account of undisclosed investment in respect of purchase of land was not justified

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

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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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