https://www.taxtmi.com/caselaws?id=330614 The High Court dismissed the Department's appeals, affirming the Tribunal's decision. The Court held that the assessee's retraction was valid and noted the failure to allow cross-examination of the witness, constituting a significant procedural flaw. Citing legal precedents, the Court emphasized the necessity for credible evidence to support additions based on statements. Ultimately, the Court found in favor of the assessee, upholding the Tribunal's decision and dismissing the Department's appeals. en-us Wed, 20 Jul 2016 00:00:00 +0530 Sat, 30 Jul 2016 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330614 The High Court dismissed the Department's appeals, affirming the Tribunal's decision. The Court held that the assessee's retraction was valid and noted the failure to allow cross-examination of the witness, constituting a significant procedural flaw. Citing legal precedents, the Court emphasized the necessity for credible evidence to support additions based on statements. Ultimately, the Court found in favor of the assessee, upholding the Tribunal's decision and dismissing the Department's appeals. Case-Laws Income Tax Wed, 20 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330614