Monday, January 11, 2021

Sec. 154 revision couldn’t be invoked to tax undisclosed income declared during search as per Sec. 115BBE

INCOME TAX : Where assessee surrenders undisclosed income during search action for relevant year, it is not necessary that tax rate has to be charged as per provision of section 115BBE

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000196571/sec-154-revision-couldn’t-be-invoked-to-tax-undisclosed-income-declared-during-search-as-per-sec-115bbe.aspx

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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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