Tuesday, June 29, 2021

ITAT quashes sec. 69 addition made on basis of agreement as transaction referred in it was not materialized

INCOME TAX : Where purported transaction of land between assessee-seller and buyer did not materialise and land was not transferred to said buyer, addition under section 69 on basis of seized agreement was not justified

from www.taxmann.com Latest Case Laws https://ift.tt/2UNoSBg

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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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