https://www.taxtmi.com/caselaws?id=357505 The Tax Appeal was dismissed by the Tribunal as the consideration of a statement under oath was not considered binding evidence due to lack of opportunity for cross-examination. The Tribunal emphasized that share purchases were paid by cheque, transferred to the assessee's demat account, and then sold, leading to the dismissal of the appeal based on the appreciation of evidence. Additionally, the Tribunal found no evidence to support the claim that off-market transactions were illegal or fraudulent, ultimately overturning the additions made by the Assessing Officer and CIT(Appeals). en-us Tue, 12 Sep 2017 00:00:00 +0530 Sat, 24 Mar 2018 08:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357505 The Tax Appeal was dismissed by the Tribunal as the consideration of a statement under oath was not considered binding evidence due to lack of opportunity for cross-examination. The Tribunal emphasized that share purchases were paid by cheque, transferred to the assessee's demat account, and then sold, leading to the dismissal of the appeal based on the appreciation of evidence. Additionally, the Tribunal found no evidence to support the claim that off-market transactions were illegal or fraudulent, ultimately overturning the additions made by the Assessing Officer and CIT(Appeals). Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357505