Monday, October 4, 2021

AO can continue proceedings even if reason supplied by him while rejecting objections not acceptable to assessee: HC

INCOME TAX : Where Assessing Officer dealt with objections filed by assessee against reopening notice issued against it in accordance with law and rejected same, even though reasons for rejection of objections might not be acceptable to assessee, it had to proceed with reassessment proceedings

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

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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...