https://www.taxtmi.com/caselaws?id=392644 The tribunal set aside the orders treating specific amounts as undisclosed income and applying a special tax rate under section 115BBE. The case was remanded to the CIT(A) for further examination with directions to consider evidence from regulatory authorities regarding the status of the companies involved. The tribunal emphasized the importance of factual evidence over presumptions and instructed the CIT(A) to provide the assessee with a fair opportunity to present their case. The appeals were allowed for statistical purposes. en-us Thu, 05 Dec 2019 00:00:00 +0530 Mon, 08 Aug 2022 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392644 The tribunal set aside the orders treating specific amounts as undisclosed income and applying a special tax rate under section 115BBE. The case was remanded to the CIT(A) for further examination with directions to consider evidence from regulatory authorities regarding the status of the companies involved. The tribunal emphasized the importance of factual evidence over presumptions and instructed the CIT(A) to provide the assessee with a fair opportunity to present their case. The appeals were allowed for statistical purposes. Case-Laws Income Tax Thu, 05 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392644