https://www.taxtmi.com/caselaws?id=402504 Additional evidence relied upon in appellate proceedings must be confronted to the Assessing Officer with a fair and effective opportunity to verify and rebut it under Rule 46A; where that opportunity is not properly given, reliance on such material is procedurally infirm. On a section 68 issue involving share application money and premium, identity, creditworthiness and genuineness require proper testing on the assessment record, and unserved notices or inadequate supporting material may justify further examination. The matter was therefore remitted for de novo consideration, and the deletion could not be sustained on the existing record. en-us Fri, 01 Jan 2021 00:00:00 +0530 Mon, 04 Jan 2021 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402504 Additional evidence relied upon in appellate proceedings must be confronted to the Assessing Officer with a fair and effective opportunity to verify and rebut it under Rule 46A; where that opportunity is not properly given, reliance on such material is procedurally infirm. On a section 68 issue involving share application money and premium, identity, creditworthiness and genuineness require proper testing on the assessment record, and unserved notices or inadequate supporting material may justify further examination. The matter was therefore remitted for de novo consideration, and the deletion could not be sustained on the existing record. Case-Laws Income Tax Fri, 01 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402504