Thursday, August 26, 2021

CIT couldn’t invoke sec. 263 revision without meeting assessee's objections legally: ITAT

INCOME TAX : Where assessee brought to notice of Pr. Commissioner that no disallowance could be made under section 40(a)(ia) even if there was a violation under section 194C(7), Pr. Commissioner could not have set aside assessment order under section 263 without meeting assessee's objections legally

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000315568/cit-couldn’t-invoke-sec-263-revision-without-meeting-assessees-objections-legally-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...