https://www.taxtmi.com/caselaws?id=341554 The Court ruled in favor of the assessee on substantial questions (i) and (iii) related to the additions made in the block assessment but decided in favor of the revenue on substantial question No. (ii) concerning the diamonds issue due to inadequate explanations and lack of bonafide transactions. The judgment emphasized the importance of credible explanations, proper documentation, and adherence to natural justice principles in tax assessments, reversing the Tribunal's decision on the gold and diamonds issue. en-us Fri, 24 Mar 2017 00:00:00 +0530 Thu, 16 Aug 2018 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341554 The Court ruled in favor of the assessee on substantial questions (i) and (iii) related to the additions made in the block assessment but decided in favor of the revenue on substantial question No. (ii) concerning the diamonds issue due to inadequate explanations and lack of bonafide transactions. The judgment emphasized the importance of credible explanations, proper documentation, and adherence to natural justice principles in tax assessments, reversing the Tribunal's decision on the gold and diamonds issue. Case-Laws Income Tax Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341554