Monday, May 4, 2020

Suit seeking undivided share in predecessor’s property can’t be rejected outrightly u/s 4(3) of unamended Benami Act

INCOME TAX: Where appellants, successos-in-interest (widow and children) of deceased "A" , filed a suit for partition against respondents claiming that they were collectively entitled to one-tenth undivided share in suit property on ground that though said property was allotted in the name of respondent No. 1 (i.e. brother of deceased) but consideration for same was paid by father of the deceased, however,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194485/suit-seeking-undivided-share-in-predecessor’s-property-can’t-be-rejected-outrightly-us-43-of-unamended-benami-act.aspx

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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