Tuesday, November 24, 2020

Additions related to Swiss Bank upheld as there was proper issue of notice u/s 143(2) before completing reassessment

INCOME TAX : Where reopening notice was issued against assessee on basis of information obtained from Investigation Wing that assessee had operated undeclared account with a bank located outside India and carried out unaccounted transactions and made deposits in it, impugned reopening notice was justified

from www.taxmann.com Latest Case Laws https://ift.tt/3fr06gk
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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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