https://www.taxtmi.com/caselaws?id=183662 The Tribunal remanded the case back to the Assessing Officer for further verification and reassessment. The assessee was granted the opportunity to provide complete and verifiable evidence, particularly in relation to additions under Section 68 of the Income Tax Act and unaccounted investment in land. The Tribunal stressed the importance of allowing the assessee to cross-examine the seller and receive a fair chance to present additional evidence. Interest and penalty proceedings were deferred pending the reassessment. Both the assessee and the Revenue's appeals were allowed for statistical purposes, with the assessee's cross-objection being dismissed. en-us Fri, 05 Jul 2013 00:00:00 +0530 Thu, 02 Mar 2017 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183662 The Tribunal remanded the case back to the Assessing Officer for further verification and reassessment. The assessee was granted the opportunity to provide complete and verifiable evidence, particularly in relation to additions under Section 68 of the Income Tax Act and unaccounted investment in land. The Tribunal stressed the importance of allowing the assessee to cross-examine the seller and receive a fair chance to present additional evidence. Interest and penalty proceedings were deferred pending the reassessment. Both the assessee and the Revenue's appeals were allowed for statistical purposes, with the assessee's cross-objection being dismissed. Case-Laws Income Tax Fri, 05 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183662