Saturday, June 19, 2021

HC stayed faceless assessment order as Co. failed to collect requisite doc. due to lockdown for filing objection

INCOME TAX : Where assessee challenged assessment order and demand of notice on ground that it could not file objections to show cause notice-cum-draft assessment order in view of lockdown in Delhi and so it should be granted one more opportunity to file objection against notice-cum-draft assessment order, notice was issued to revenue and meanwhile assessment order as well as notice of was to be stayed ; matter was to be listed on 17-8-2021

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

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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...