Income Tax Addition Overturned Due to Lack of Cross-Examination Opportunity for Assessee on Seller's Statement.

Income Tax Addition Overturned Due to Lack of Cross-Examination Opportunity for Assessee on Seller's Statement. https://www.taxtmi.com/highlights?id=48704 Addition on account of unexplained source of investment - seller declared higher price of sales value - cross examination - when the statement of the seller is solely relied on by the AO, it is the duty of the AO to ask the assessee if he wanted to cross examine, to provide an opportunity to cross examine the seller - no such opportunity has been given by the AO - addition not sustainable en-us Sat, 17 Aug 2019 08:04:28 +0530 Sat, 17 Aug 2019 08:04:28 +0530 TaxTMI RSS Generator Income Tax Addition Overturned Due to Lack of Cross-Examination Opportunity for Assessee on Seller's Statement. https://www.taxtmi.com/highlights?id=48704 Addition on account of unexplained source of investment - seller declared higher price of sales value - cross examination - when the statement of the seller is solely relied on by the AO, it is the duty of the AO to ask the assessee if he wanted to cross examine, to provide an opportunity to cross examine the seller - no such opportunity has been given by the AO - addition not sustainable Highlights Income Tax Sat, 17 Aug 2019 08:04:28 +0530 https://www.taxtmi.com/highlights?id=48704