https://www.taxtmi.com/caselaws?id=362557 The Tribunal remitted two cases back to the Assessing Officer due to denial of exemption under section 10(38) of the Income Tax Act based on statements from stock broker Shri Ashok Kumar Kayan without providing the assessee an opportunity for cross-examination. Emphasizing the importance of due process, the Tribunal directed the assessee to provide evidence for Long Term Capital Gains transactions and the Revenue to furnish Kayan's statement for rebuttal. The cases required reevaluation with factual support and granting the assessee a chance to substantiate their claims, highlighting the necessity of providing statements for cross-examination. The appeal was allowed for statistical purposes, stressing adherence to legal procedures. en-us Mon, 25 Jun 2018 00:00:00 +0530 Thu, 28 Jun 2018 10:41:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362557 The Tribunal remitted two cases back to the Assessing Officer due to denial of exemption under section 10(38) of the Income Tax Act based on statements from stock broker Shri Ashok Kumar Kayan without providing the assessee an opportunity for cross-examination. Emphasizing the importance of due process, the Tribunal directed the assessee to provide evidence for Long Term Capital Gains transactions and the Revenue to furnish Kayan's statement for rebuttal. The cases required reevaluation with factual support and granting the assessee a chance to substantiate their claims, highlighting the necessity of providing statements for cross-examination. The appeal was allowed for statistical purposes, stressing adherence to legal procedures. Case-Laws Income Tax Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362557