https://www.taxtmi.com/caselaws?id=329602 The ITAT allowed the appeal filed by the assessee, highlighting procedural fairness, burden of proof discharge, and thorough verification of evidence in tax assessments. The ITAT criticized the AO and FAA for procedural lapses, emphasizing the importance of providing cross-examination opportunities and copies of statements to maintain fairness in the assessment process. The ITAT overturned the decision on the non-genuineness of purchases, noting the lack of concrete evidence to support the authorities' conclusions. Ultimately, the ITAT ruled in favor of the assessee, emphasizing the significance of proper verification procedures in tax assessments. en-us Fri, 24 Jun 2016 00:00:00 +0530 Wed, 06 Jul 2016 04:05:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329602 The ITAT allowed the appeal filed by the assessee, highlighting procedural fairness, burden of proof discharge, and thorough verification of evidence in tax assessments. The ITAT criticized the AO and FAA for procedural lapses, emphasizing the importance of providing cross-examination opportunities and copies of statements to maintain fairness in the assessment process. The ITAT overturned the decision on the non-genuineness of purchases, noting the lack of concrete evidence to support the authorities' conclusions. Ultimately, the ITAT ruled in favor of the assessee, emphasizing the significance of proper verification procedures in tax assessments. Case-Laws Income Tax Fri, 24 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329602