https://www.taxtmi.com/caselaws?id=371750 The ITAT Bangalore set aside the Assessing Officer's decision to treat the sale consideration of shares as unexplained cash credits under section 68 of the Income-tax Act for the assessment year 2014-15. The ITAT found that the addition was made without proper basis or opportunity for rebuttal, directing a re-adjudication by the Assessing Officer to allow the assessee to challenge the documents and statements relied upon. Additionally, the ITAT emphasized the importance of upholding principles of natural justice, ensuring the assessee's right to a fair hearing by providing opportunities for cross-examination and rebuttal in assessment proceedings. en-us Wed, 05 Dec 2018 00:00:00 +0530 Sat, 08 Dec 2018 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371750 The ITAT Bangalore set aside the Assessing Officer's decision to treat the sale consideration of shares as unexplained cash credits under section 68 of the Income-tax Act for the assessment year 2014-15. The ITAT found that the addition was made without proper basis or opportunity for rebuttal, directing a re-adjudication by the Assessing Officer to allow the assessee to challenge the documents and statements relied upon. Additionally, the ITAT emphasized the importance of upholding principles of natural justice, ensuring the assessee's right to a fair hearing by providing opportunities for cross-examination and rebuttal in assessment proceedings. Case-Laws Income Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371750