https://www.taxtmi.com/caselaws?id=285321 The appellant's appeal regarding the assessment of unexplained cash credits under Section 68 of the Income-tax Act was successful as the ITAT set aside the AO's decision and directed a re-adjudication, emphasizing principles of natural justice. The appellant's concerns about the violation of natural justice were acknowledged, ensuring the right to cross-examination and rebuttal. The addition to income from the sale of shares claimed as exempt under Section 10(38) was also set aside for lack of proper substantiation and opportunity for rebuttal. The issue of liability for interest under Sections 234B and 234C was not specifically addressed, with the appeal allowed for re-adjudication on the primary issue. en-us Wed, 05 Dec 2018 00:00:00 +0530 Wed, 08 Jan 2020 07:09:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285321 The appellant's appeal regarding the assessment of unexplained cash credits under Section 68 of the Income-tax Act was successful as the ITAT set aside the AO's decision and directed a re-adjudication, emphasizing principles of natural justice. The appellant's concerns about the violation of natural justice were acknowledged, ensuring the right to cross-examination and rebuttal. The addition to income from the sale of shares claimed as exempt under Section 10(38) was also set aside for lack of proper substantiation and opportunity for rebuttal. The issue of liability for interest under Sections 234B and 234C was not specifically addressed, with the appeal allowed for re-adjudication on the primary issue. Case-Laws Income Tax Wed, 05 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285321