Monday, June 22, 2020

No infirmity in HC’s order upholding deletion of addition as unsecured loan was never received by assessee

INCOME TAX : Where High Court upheld Tribunal's order deleting addition made to assessee's income in respect of unsecured loan, SLP filed against order of High Court was to be dismissed

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000189482/no-infirmity-in-hc’s-order-upholding-deletion-of-addition-as-unsecured-loan-was-never-received-by-assessee.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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