Tuesday, May 25, 2021

Reassessment justified on basis of info. retrieved from back of computer/laptops and mobiles during survey: HC

INCOME TAX : Where during survey under section 133A conducted upon an entity back up of computer, laptop and mobiles were taken in hard disk and gadgets were impounded from which it was found that assessee had maintained an undisclosed bank account which had credit balance of huge amount, impugned reopening notice issued against assessee on basis of same was justified

from www.taxmann.com Latest Case Laws https://ift.tt/3udQGe9

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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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