Monday, March 16, 2020

Additional income offered before SetCom won't indicate that assessee hadn't made true disclosure of income

INCOME TAX : Where department filed a report before Settlement Commission submitting that quantum of additional income initially disclosed by assessee before commission was not true and full disclosure and, during course of hearing before Commission, assessee disclosed further additional income so as to put an end to controversy, Commission was right in considering said revised offer made by assessee

from www.taxmann.com Latest Case Laws https://ift.tt/2xFaY8B

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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...