https://www.taxtmi.com/caselaws?id=184164 The High Court dismissed the appeal, affirming the decisions of the lower authorities. The case involved disputed issues such as the correctness of ITAT's reliance on previous decisions, validity of witness statements, burden of proof, shifting of onus to prove genuineness of transactions, and dismissal of appeal without examining facts. The court found that the assessee had declared assets, paid taxes, and proved possession and ownership of the diamonds sold. The Revenue's contentions of undisclosed income from hawala transactions were not supported, leading to the dismissal of the appeal. en-us Tue, 24 Feb 2009 00:00:00 +0530 Thu, 30 Jun 2016 18:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184164 The High Court dismissed the appeal, affirming the decisions of the lower authorities. The case involved disputed issues such as the correctness of ITAT's reliance on previous decisions, validity of witness statements, burden of proof, shifting of onus to prove genuineness of transactions, and dismissal of appeal without examining facts. The court found that the assessee had declared assets, paid taxes, and proved possession and ownership of the diamonds sold. The Revenue's contentions of undisclosed income from hawala transactions were not supported, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 24 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184164