Thursday, August 6, 2020

SC dismissed SLP as finding of AO was based on evidence detailed appreciation of evidence on record

INCOME TAX: SLP dismissed as withdrawn against High Court ruling that where Assessing Officer made addition to assessee's income on ground that there was mismatch between assessee's consumption of raw material and output of various drugs manufactured by assessee, in view of fact that finding of Assessing Officer was based on detailed appreciation of evidence on record, impugned addition was to be confirmed

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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...