https://www.taxtmi.com/caselaws?id=260129 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the Commissioner of Income Tax (Appeals) decision to delete additions totaling Rs. 1,14,95,416 for unexplained stock, Rs. 28,80,609 for shortage of goods, and Rs. 19,88,487 for modvat on bogus purchases. The ITAT emphasized the need for the Assessing Officer (AO) to conduct thorough investigations, independently verify material, and provide the assessee with a fair opportunity to be heard before making additions to the assessment. en-us Thu, 26 Mar 2015 00:00:00 +0530 Wed, 03 Jun 2015 06:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260129 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and upheld the Commissioner of Income Tax (Appeals) decision to delete additions totaling Rs. 1,14,95,416 for unexplained stock, Rs. 28,80,609 for shortage of goods, and Rs. 19,88,487 for modvat on bogus purchases. The ITAT emphasized the need for the Assessing Officer (AO) to conduct thorough investigations, independently verify material, and provide the assessee with a fair opportunity to be heard before making additions to the assessment. Case-Laws Income Tax Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260129