Tuesday, April 27, 2021

HC justified reassessment as reason recorded by AO is unconnected with issue involved during original assessment

INCOME-TAX : Once competent authority formed an opinion that issue involved during original assessment is unconnected with reasons for reopening of assessment under section 147 , then High Court is expected to be slow in interfering with reopening of assessment and authorities must be provided with opportunity to conduct further adjudication

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

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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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