Tuesday, June 1, 2021

Prior approval of CIT is mandatory irrespective of rank of AO reopening assessment after 4 year: ITAT

INCOME TAX : Once reopening is after expiry of four years from end of assessment year and original assessment was completed under section 143(3), then irrespective of rank of Assessing Officer who has reopened assessment it is mandatory condition that satisfaction of Pr. CCIT/CCIT/PCIT/CIT is required

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