Wednesday, February 26, 2020

SC granted SLP against ruling deleting sec. 68 additions on ground that no incriminating material was found

INCOME TAX : Where High Court upheld Tribunal's order deleting addition made in case of assessee under section 68 on account of share application money in assessment under section 153C, read with section 143(3) on ground that during search, no incriminating material was found to support such addition, SLP filed against order said was to be granted

from www.taxmann.com Latest Case Laws https://ift.tt/2w7VUzs

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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...