https://www.taxtmi.com/caselaws?id=371760 The judgment pertains to appeals arising from block assessments conducted under Section 132 of the Income Tax Act, 1961 for the period 01.04.1995 to 20.11.2001. The partners' explanations regarding excess stock, purchases by partners' wives, and cash credits were found credible by the First Appellate Authority and Tribunal. Rectifications filed by the assessee were supported by individual returns of partners. The appeals by the Revenue were rejected, with no legal issues identified, and no costs awarded. The judgment emphasizes the alignment of explanations with assessments, leading to the dismissal of the appeals. en-us Mon, 26 Nov 2018 00:00:00 +0530 Mon, 10 Dec 2018 09:42:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371760 The judgment pertains to appeals arising from block assessments conducted under Section 132 of the Income Tax Act, 1961 for the period 01.04.1995 to 20.11.2001. The partners' explanations regarding excess stock, purchases by partners' wives, and cash credits were found credible by the First Appellate Authority and Tribunal. Rectifications filed by the assessee were supported by individual returns of partners. The appeals by the Revenue were rejected, with no legal issues identified, and no costs awarded. The judgment emphasizes the alignment of explanations with assessments, leading to the dismissal of the appeals. Case-Laws Income Tax Mon, 26 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371760