Saturday, September 19, 2020

Madras HC remanded matter following subsequent ruling of SC as SetCom cannot rectified its order

INCOME TAX : Where assessee had not offered income at first instance but only after search under section 132 offered additional income and subsequently filed settlement application, and Settlement Commission granted waiver of interest, but subsequently, rectified order rejecting waiver of interest and directed that interest under section 234B shall be charged up to date of order under section 245D(4),

from www.taxmann.com Latest Case Laws https://ift.tt/3mzfafd

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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...