https://www.taxtmi.com/caselaws?id=371150 The Court upheld the Income Tax Appellate Tribunal's decision to intervene with the Assessing Officer's order based on a sworn statement under Section 132(4) of the Income Tax Act, 1961. The Tribunal found the lack of supporting material for the sworn statement, emphasizing the necessity for evidence to support assessments. The Court highlighted the importance of corroborating evidence and proper enquiry before making assessments, ultimately rejecting the Revenue's appeal due to the absence of substantiating evidence and upholding the Tribunal's decision without costs. en-us Tue, 16 Oct 2018 00:00:00 +0530 Thu, 29 Nov 2018 07:57:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371150 The Court upheld the Income Tax Appellate Tribunal's decision to intervene with the Assessing Officer's order based on a sworn statement under Section 132(4) of the Income Tax Act, 1961. The Tribunal found the lack of supporting material for the sworn statement, emphasizing the necessity for evidence to support assessments. The Court highlighted the importance of corroborating evidence and proper enquiry before making assessments, ultimately rejecting the Revenue's appeal due to the absence of substantiating evidence and upholding the Tribunal's decision without costs. Case-Laws Income Tax Tue, 16 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371150