Monday, October 25, 2021

No reassessment on info. which were culled out from miscellaneous records submitted during original assessment: HC

INCOME TAX : Where Assessing Officer sought to reopen assessment in case of assessee on ground that during scrutiny assessment, details regarding professional receipts, excess investment and investment in pursuance of house property remained unexplained, however, these materials were culled out from miscellaneous records relating to assessee,

from www.taxmann.com Latest Case Laws https://ift.tt/2ZqmL98

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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...