Monday, July 26, 2021

AO can’t make additions related to deposit in Swiss Bank mere relying on info. received from Investigation wing: ITAT

INCOME TAX : Where Assessing Officer on basis of an information received from investigation wing that amount deposited in foreign bank account of deceased father of assessee which was received by assessee as his legal heir was undisclosed to IT authorities of India,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000314938/ao-can’t-make-additions-related-to-deposit-in-swiss-bank-mere-relying-on-info-received-from-investigation-wing-itat.aspx

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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...