Wednesday, August 18, 2021

Appellant wasn't entitled to protection of his possession of secured asset as he failed to produce rent receipts in support of his claim

FEMA, BANKING amp; INSURANCE : Where appellant claimed that he was tenant of Secured Asset from 12-6-2012, however, documents produced in support of his claim were xerox copies of rent receipts and first xerox copy of rent receipt was of 12-5-2013 which was after date of creation of mortgage, appellant would not be entitled to protection of his possession of Secured Asset

from www.taxmann.com Latest Case Laws https://ift.tt/3mew3Oj

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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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