Friday, May 28, 2021

Plea challenging inquiry on ground of violation of rule 4 of FEMA Adjudication Proceedings and Appeal norms dismissed

FEMA amp; BANKING : Where writ petitions had been filed by petitioner challenging Show Cause Notice(s) and consequent Adjudicating Authority, proceeding with inquiry against petitioner under Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 on alleged violation of Section 6(6) of Foreign Exchange Management Act, 1999 stating that there had been a violation of Rule 4(3) of Adjudication Rules thereby vitiating entire proceedings against petitioner,

from www.taxmann.com Latest Case Laws https://ift.tt/3yI6wkD

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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...