https://www.taxtmi.com/caselaws?id=11765 The court clarified that the Assessing Officer must issue summons under section 131 of the Income-tax Act upon request by the assessee to enable the assessee to prove the genuineness of transactions under section 68. Failure to issue summons was deemed to vitiate the process. The court emphasized the Assessing Officer's duty to examine materials disclosed by the assessee and allocate the burden of proof appropriately. The case was remanded to the Tribunal for a fresh decision, instructing the Assessing Officer to issue summons to shareholders for further evidence gathering to determine the genuineness of the transactions. en-us Mon, 17 Mar 2003 00:00:00 +0530 Mon, 08 Feb 2010 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11765 The court clarified that the Assessing Officer must issue summons under section 131 of the Income-tax Act upon request by the assessee to enable the assessee to prove the genuineness of transactions under section 68. Failure to issue summons was deemed to vitiate the process. The court emphasized the Assessing Officer's duty to examine materials disclosed by the assessee and allocate the burden of proof appropriately. The case was remanded to the Tribunal for a fresh decision, instructing the Assessing Officer to issue summons to shareholders for further evidence gathering to determine the genuineness of the transactions. Case-Laws Income Tax Mon, 17 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11765