Wednesday, September 30, 2020

SC dismissed SLP against ruling wherein reassessment was set-aside by holding that it was change of opinion

INCOME TAX : Where Assessing Officer initiated reassessment on ground that during assessment under section 143(3) loss on sale of stores was wrongly allowed as business loss, but Tribunal set aside reassessment holding it to be change of opinion and Tribunal’s order was upheld by High Court, SLP against High Court’s order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/30hq140

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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...