Friday, June 25, 2021

ITAT slam AO for initiating reassessment on reason that assessee didn't file ITR if same was duly filed

INCOME TAX : Where very reason for reopening assessment that assessee had not filed return of income was incorrect and Assessing Officer had reopened assessment without ascertaining whether assessee had filed return or not, reopening of assessment was not valid and was to be quashed and set aside

from www.taxmann.com Latest Case Laws https://ift.tt/35RJZ7K

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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...