Monday, October 4, 2021

Entire turnover can’t be treated as income if there is difference in turnover as per books and TDS certificate: ITAT

INCOME TAX : Where there was difference between assessees books of account and accounts as per TDS certificate, on said difference, only embedded portion of profits was to be taken into consideration and addition was to be made thereon; there was no justification in making addition of entire turnover to income of assessee

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316448/entire-turnover-can’t-be-treated-as-income-if-there-is-difference-in-turnover-as-per-books-and-tds-certificate-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...