Monday, March 2, 2020

Matter rightly remanded back as AO failed to adjudicate objections raised by assessee; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that where Assessing Officer did not consider objections raised by assessee that shares which were sold were held for a period in excess of one year before sale entitling exemption under section 10(38), reassessment was to be stayed

from www.taxmann.com Latest Case Laws https://ift.tt/38d0f1N

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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...