Tuesday, March 3, 2020

CIT(A) rightly set-aside reassessment proceedings as it was initiated by AO on mere change of opinion

INCOME TAX : Where assessee had submitted complete books of accounts with bills and vouchers at time of completion of assessment under section 143(3), reopening of assessment denying benefit of section 11 on basis of change of opinion was not justified

from www.taxmann.com Latest Case Laws https://ift.tt/3cpnIjD

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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...