Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]
The court quashed the order passed by the department and the matter was remanded back to the Principal Commissioner Surat-I to decide the revision petition filed by the petitioner under section 264 of the Act on merits after giving opportunity of hearing to petitioner to submit requisite documents which the petitioner is intended to submit
The Gujarat High Court in a recent case has held that the assessee is not required to produce documents when the Assessing officer ( AO ) accepted co-owner’s indexed renovation expenses in income tax assessment order. Surat Trade And Mercantile Limited, the petitioner submitted that the person, who was responsible for filing return of income,…
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