Wednesday, February 5, 2020

ITAT's order setting aside directions of CIT(A) to conduct enquiry for genuineness of purchase valid; SLP dismissed

INCOME TAX: SLP dismissed against High Court ruling that where Tribunal set aside directions issued by Commissioner (Appeals) to Assessing Officer to conduct enquiries for verifying genuineness of certain purchases made by assessee, in view of fact that Tribunal being last fact finding authority, should have considered materials on record, especially, when it had came on record subsequently that parties in question had not filed return of income and, thus, impugned order passed by it was to be s

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

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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...