https://www.taxtmi.com/caselaws?id=370915 The Tribunal partially upheld the decision, directing the Assessing Officer to adopt the assessee's multiplier contention for all transactions due to lack of corroborative material. The dispute centered on multipliers for Chit, rental income, and loans. The Tribunal emphasized the need for corroborative material, onus of proof, and correct application of multipliers. The decision highlighted discrepancies in loan amounts and multipliers, stressing the importance of substantiating evidence. Ultimately, the Tribunal's decision underscored the significance of accurate multipliers in the reassessment process, favoring the Revenue in answering the legal questions posed. en-us Mon, 12 Nov 2018 00:00:00 +0530 Mon, 26 Nov 2018 07:58:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370915 The Tribunal partially upheld the decision, directing the Assessing Officer to adopt the assessee's multiplier contention for all transactions due to lack of corroborative material. The dispute centered on multipliers for Chit, rental income, and loans. The Tribunal emphasized the need for corroborative material, onus of proof, and correct application of multipliers. The decision highlighted discrepancies in loan amounts and multipliers, stressing the importance of substantiating evidence. Ultimately, the Tribunal's decision underscored the significance of accurate multipliers in the reassessment process, favoring the Revenue in answering the legal questions posed. Case-Laws Income Tax Mon, 12 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370915