Friday, August 27, 2021

Reassessment on info that assessee didn’t disclose commission earned from providing accommodation entries valid : HC

INCOME TAX: Where from inquiry/investigation by Investigation Wing, some tangible material was found to substantiate fact that assessee was provider of accommodation entries and that, income from commission, ranging from 0.5 per cent to 1 per cent was not disclosed in return,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316616/reassessment-on-info-that-assessee-didn’t-disclose-commission-earned-from-providing-accommodation-entries-valid-hc.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...