https://www.taxtmi.com/caselaws?id=394959 The genuineness of the alleged jewellery sale remained unproved on the existing record, as the receipts could reflect either a real transaction or an accommodation entry. Because the material before the appellate forum was incomplete, including the need to verify the purchaser's books and supporting evidence, the matter was restored to the Assessing Officer for fresh examination. The assessee was to be given an opportunity of hearing, and a fresh independent factual finding was required on whether the sale was genuine. The Revenue's appeal was allowed for statistical purposes. en-us Mon, 24 Feb 2020 00:00:00 +0530 Thu, 30 Apr 2020 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394959 The genuineness of the alleged jewellery sale remained unproved on the existing record, as the receipts could reflect either a real transaction or an accommodation entry. Because the material before the appellate forum was incomplete, including the need to verify the purchaser's books and supporting evidence, the matter was restored to the Assessing Officer for fresh examination. The assessee was to be given an opportunity of hearing, and a fresh independent factual finding was required on whether the sale was genuine. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 24 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394959