Thursday, March 5, 2020

HC upholds reassessment proceedings as assessee failed to controvert findings of AO

INCOME TAX : Where AO initiated reassessment proceedings in case of assessee on ground that it had received accommodation entries from a sham concern, since assessee failed to controvert said finding of AO, validity of reassessment proceeding deserved to be upheld

from www.taxmann.com Latest Case Laws https://ift.tt/2x4GCvU

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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...