Friday, June 19, 2020

ITAT justified penalty levied for non-maintenance of books of account though they got damaged

INCOME TAX: Where assessee, earning income from sale of IMFL, failed to maintain books of account as per provisions of section 44AA even when her income exceeded prescribed limit, impugned order levying penalty under section 271A was to be upheld

from www.taxmann.com Latest Case Laws https://ift.tt/2NcLq7j
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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...