https://www.taxtmi.com/caselaws?id=207591 The court allowed the appeal, emphasizing the importance of the burden of proof lying with the party making the claim and the significance of providing an opportunity for cross-examination to ensure natural justice principles are upheld in legal proceedings. The court ruled in favor of the revenue, highlighting the failure of the assessee to discharge the burden of proof regarding the transaction's genuineness, ultimately leading to the rejection of the claim for tax exemption under section 54F of the Act. en-us Wed, 22 Dec 2010 00:00:00 +0530 Sat, 17 Dec 2011 09:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207591 The court allowed the appeal, emphasizing the importance of the burden of proof lying with the party making the claim and the significance of providing an opportunity for cross-examination to ensure natural justice principles are upheld in legal proceedings. The court ruled in favor of the revenue, highlighting the failure of the assessee to discharge the burden of proof regarding the transaction's genuineness, ultimately leading to the rejection of the claim for tax exemption under section 54F of the Act. Case-Laws Income Tax Wed, 22 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207591