Thursday, March 19, 2020

No coercive measures during pendency of writ challenging constitutional validity of Black Money Act: HC

BLACK MONEY ACT : Petitioner were subjected to proceedings under Income­-tax Act when notice under Black Money Act was issued - Income­-tax proceedings concluded thereafter in which issue relating to escaped income was left to be decided by authorities under Black Money Act - Petitioners stated that they were statutorily debarred from making a declaration under section 59 in view of section 71(d) - On other hand,

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

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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...