Thursday, September 24, 2020

Writ is not maintainable if assessee didn’t exhaust available statutory remedy of filing appeal

INCOME TAX : Where Income-tax Officer treated cash deposited by assessee in saving bank account during demonetization period as unexplained money of assessee but there was no explanation for source and nature of cash deposited and assessee filed writ petition which was dismissed by Single Judge holding that assessee should file statutory appeal before appellate authority, since Act provides effective and sufficient forum for any aggrieved party to work out their remedy, writ appeal filed by asse

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000196054/writ-is-not-maintainable-if-assessee-didn’t-exhaust-available-statutory-remedy-of-filing-appeal.aspx

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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...