https://www.taxtmi.com/caselaws?id=372850 The Tribunal allowed the appeals, overturning the disallowance of the loss claimed by the assessee on trading in bonds. The Tribunal found that the Assessing Officer failed to prove that the transactions were non-genuine and not conducted through proper channels. Additionally, the Tribunal held that the principles of natural justice were violated by not providing the assessee with an opportunity for cross-examination. Therefore, the disallowance of the loss and the charging of interest under sections 234A, 234B, and 234C were both overturned. en-us Thu, 12 Jul 2018 00:00:00 +0530 Sat, 29 Dec 2018 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372850 The Tribunal allowed the appeals, overturning the disallowance of the loss claimed by the assessee on trading in bonds. The Tribunal found that the Assessing Officer failed to prove that the transactions were non-genuine and not conducted through proper channels. Additionally, the Tribunal held that the principles of natural justice were violated by not providing the assessee with an opportunity for cross-examination. Therefore, the disallowance of the loss and the charging of interest under sections 234A, 234B, and 234C were both overturned. Case-Laws Income Tax Thu, 12 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372850