Friday, February 5, 2021

Disallowance and additions must be based on any incriminating material found during search

INCOME TAX : Where assessment proceedings had already been completed prior to date of search under section 132, scope of making assessment under section 153C would be limited only to undisclosed income of assessee detected during search of some other person

from www.taxmann.com Latest Case Laws https://ift.tt/3tn64FE

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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...