https://www.taxtmi.com/caselaws?id=357878 The Hon'ble Delhi High Court addressed the addition of unexplained cash credit by the Assessing Officer, emphasizing the onus of proving identity, creditworthiness, and genuineness of transactions. The Court directed a fresh adjudication process, stressing the importance of verification of facts and providing fair opportunities for rebuttal under Rule 46A. The matter was restored back to the CIT(A) for proper assessment, underscoring the significance of natural justice and due process in tax proceedings. The revenue's appeal was allowed for statistical purposes, highlighting the need for adherence to legal principles in tax adjudication. en-us Mon, 26 Mar 2018 00:00:00 +0530 Sat, 31 Mar 2018 07:19:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357878 The Hon'ble Delhi High Court addressed the addition of unexplained cash credit by the Assessing Officer, emphasizing the onus of proving identity, creditworthiness, and genuineness of transactions. The Court directed a fresh adjudication process, stressing the importance of verification of facts and providing fair opportunities for rebuttal under Rule 46A. The matter was restored back to the CIT(A) for proper assessment, underscoring the significance of natural justice and due process in tax proceedings. The revenue's appeal was allowed for statistical purposes, highlighting the need for adherence to legal principles in tax adjudication. Case-Laws Income Tax Mon, 26 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357878