Thursday, March 12, 2020

Re-opening of assessment invoking extended timelines based on ITAT's earlier year's finding allowable

INCOME TAX : Re-opening of assessment under section 147/148 invoking extended timeline under section 150 based on Tribunal's earlier year's findings was to be allowed as assessee had categorically agreed to be bound by findings of Tribunal for earlier year

from www.taxmann.com Latest Case Laws https://ift.tt/2Q9MDy4

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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...