Thursday, August 12, 2021

HC justified reassessment initiated on info. that assessee provides accommodation entries for shell Co.

INCOME TAX : Where information disseminated by Investigation Wing in case of 'J', who was managing and controlling multiple companies which were involved in providing accommodation entries, showed that petitioner-company had taken accommodation entries and reassessment was initiated, and assessee challenged said reassessment,

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

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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...