Friday, January 10, 2020

No reassessment after 4 years in absence of assessee's failure to disclose true facts; SC dismissed SLP

INCOME TAX: Where High Court upheld Tribunal's order holding that in absence of any failure on part of assessee to disclose fully and trully all material facts at time of assesment, reassessment proceedings could not be initiated after expiry of four years from end of relevant year, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/37T72hn

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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...