https://www.taxtmi.com/caselaws?id=278460 The Tribunal allowed the appeal in part, deleting the addition of Rs. 10.17 crores as unexplained cash credit under section 68. The Tribunal found that the Assessing Officer failed to conduct an independent inquiry and violated natural justice principles by not allowing the assessee to cross-examine the directors whose statements were used against it. The Tribunal emphasized the lack of corroborative evidence and overturned the addition, while dismissing the other grounds as not pressed. en-us Fri, 20 Dec 2013 00:00:00 +0530 Mon, 04 Feb 2019 17:27:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278460 The Tribunal allowed the appeal in part, deleting the addition of Rs. 10.17 crores as unexplained cash credit under section 68. The Tribunal found that the Assessing Officer failed to conduct an independent inquiry and violated natural justice principles by not allowing the assessee to cross-examine the directors whose statements were used against it. The Tribunal emphasized the lack of corroborative evidence and overturned the addition, while dismissing the other grounds as not pressed. Case-Laws Income Tax Fri, 20 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278460