Friday, March 6, 2020

Charge created on property before issue of notice valid though its actual sale took place latterly: SC

INCOME TAX : Where charge over the property was created much prior to the issuance of the recovery notice under Rule 2 of Schedule II to the Income-tax Act, it would remain valid though sale of property was conducted after issuance of attachment order by tax recovery officer

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

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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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