https://www.taxtmi.com/caselaws?id=281169 The Tribunal allowed the appeal for statistical purposes, emphasizing the importance of providing the assessee with an opportunity for cross-examination and substantiating transactions. The judgment highlighted the necessity of concrete evidence over mere suspicions, remitting the issue back to the Assessing Officer for reconsideration in accordance with the law. The denial of exemption under section 10(38) of the Income Tax Act and deeming of consideration as cash credit were set aside, focusing on the right to cross-examination and due process in assessments. en-us Tue, 13 Nov 2018 00:00:00 +0530 Wed, 05 Jun 2019 23:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281169 The Tribunal allowed the appeal for statistical purposes, emphasizing the importance of providing the assessee with an opportunity for cross-examination and substantiating transactions. The judgment highlighted the necessity of concrete evidence over mere suspicions, remitting the issue back to the Assessing Officer for reconsideration in accordance with the law. The denial of exemption under section 10(38) of the Income Tax Act and deeming of consideration as cash credit were set aside, focusing on the right to cross-examination and due process in assessments. Case-Laws Income Tax Tue, 13 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281169