https://www.taxtmi.com/caselaws?id=366680 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the additions made under Section 68 and Section 69C of the Income Tax Act. The Tribunal found that the AO's reliance on suspicion and generalized information, without concrete evidence, was insufficient to justify the additions. Additionally, the Tribunal noted violations of natural justice principles by the AO for not providing materials and opportunity for cross-examination. The genuineness of the transactions was supported by proper documentation, leading to the allowance of the assessee's appeal. en-us Wed, 05 Sep 2018 00:00:00 +0530 Sat, 08 Sep 2018 14:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366680 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to delete the additions made under Section 68 and Section 69C of the Income Tax Act. The Tribunal found that the AO's reliance on suspicion and generalized information, without concrete evidence, was insufficient to justify the additions. Additionally, the Tribunal noted violations of natural justice principles by the AO for not providing materials and opportunity for cross-examination. The genuineness of the transactions was supported by proper documentation, leading to the allowance of the assessee's appeal. Case-Laws Income Tax Wed, 05 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366680