https://www.taxtmi.com/caselaws?id=264036 The Tribunal dismissed the Revenue's appeal against the deletion of an addition of Rs. 25,50,150 on account of accommodation entries received by the assessee for AY 2001-02. The CIT(A) found the AO did not adhere to natural justice principles, failed to prove the transaction's genuineness, and emphasized the burden of proof on the AO under Section 68 of the Income Tax Act. Relying on legal precedents, the Tribunal upheld the CIT(A)'s decision, emphasizing the importance of the Revenue producing evidence in reassessment cases. Consequently, the deletion of the addition made by the AO was affirmed. en-us Fri, 28 Nov 2014 00:00:00 +0530 Mon, 14 Sep 2015 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264036 The Tribunal dismissed the Revenue's appeal against the deletion of an addition of Rs. 25,50,150 on account of accommodation entries received by the assessee for AY 2001-02. The CIT(A) found the AO did not adhere to natural justice principles, failed to prove the transaction's genuineness, and emphasized the burden of proof on the AO under Section 68 of the Income Tax Act. Relying on legal precedents, the Tribunal upheld the CIT(A)'s decision, emphasizing the importance of the Revenue producing evidence in reassessment cases. Consequently, the deletion of the addition made by the AO was affirmed. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264036