https://www.taxtmi.com/caselaws?id=339426 The High Court dismissed all appeals filed by the Revenue challenging orders of the Commissioner (Appeals) and the Income Tax Appellate Tribunal regarding the assessment of a non-banking financial institute's income related to issuing multi-city cheques. The court upheld the decision to accept additional evidence at the appellate stage, finding the creditworthiness of the transactions had been adequately proven. The court emphasized that the assessing officer had a fair opportunity to respond to the evidence, leading to the affirmation of the appellate authorities' findings. en-us Mon, 20 Feb 2017 00:00:00 +0530 Mon, 27 Feb 2017 10:56:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339426 The High Court dismissed all appeals filed by the Revenue challenging orders of the Commissioner (Appeals) and the Income Tax Appellate Tribunal regarding the assessment of a non-banking financial institute's income related to issuing multi-city cheques. The court upheld the decision to accept additional evidence at the appellate stage, finding the creditworthiness of the transactions had been adequately proven. The court emphasized that the assessing officer had a fair opportunity to respond to the evidence, leading to the affirmation of the appellate authorities' findings. Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339426