Friday, July 24, 2020

ITAT deletes Addition since AO combined Value of Gold and Silver together, ignored CBDT Circular [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently deleted the addition made by the income tax department since it is found that the Assessing Officer while making the addition, combined the value of gold and silver together. The income tax department seized gold worth 831.74 gms and silver worth 7433.65gms, pursuant […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2E90eT8

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