https://www.taxtmi.com/caselaws?id=337930 The High Court set aside the ITAT's decision and affirmed the CIT's order, emphasizing the necessity of proper verification to protect the revenue's interests. The court concluded that the lack of verification could prejudice the revenue, leading to the decision in favor of the department. The specific issues regarding the verification of sundry creditors' addresses and the sale of land and stock valuation were addressed, with the focus on the importance of thorough examination to prevent any potential revenue loss. en-us Mon, 02 Jan 2017 00:00:00 +0530 Fri, 20 Jan 2017 07:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337930 The High Court set aside the ITAT's decision and affirmed the CIT's order, emphasizing the necessity of proper verification to protect the revenue's interests. The court concluded that the lack of verification could prejudice the revenue, leading to the decision in favor of the department. The specific issues regarding the verification of sundry creditors' addresses and the sale of land and stock valuation were addressed, with the focus on the importance of thorough examination to prevent any potential revenue loss. Case-Laws Income Tax Mon, 02 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337930