https://www.taxtmi.com/caselaws?id=396950 The Tribunal allowed the assessee's appeal, directing the AO to delete the additions of Rs. 1.38 crores and the disallowance of Rs. 13,83,200 in interest payments. It emphasized that the assessee discharged its initial burden of proof and that non-response to notices does not automatically render transactions non-genuine. The judgment highlights the necessity of evaluating the totality of evidence rather than relying solely on procedural non-compliance by third parties. en-us Wed, 24 Jun 2020 00:00:00 +0530 Tue, 05 Nov 2024 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396950 The Tribunal allowed the assessee's appeal, directing the AO to delete the additions of Rs. 1.38 crores and the disallowance of Rs. 13,83,200 in interest payments. It emphasized that the assessee discharged its initial burden of proof and that non-response to notices does not automatically render transactions non-genuine. The judgment highlights the necessity of evaluating the totality of evidence rather than relying solely on procedural non-compliance by third parties. Case-Laws Income Tax Wed, 24 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396950