https://www.taxtmi.com/caselaws?id=292777 The Tribunal partly allowed the appeal, emphasizing the principles of natural justice and the burden of proof on the assessee. It remitted the matter back to the Assessing Officer for re-adjudication, directing a thorough examination of the genuineness of the transactions and the exemption claim under Section 10(38), ensuring the assessee is given a fair opportunity to present evidence. The Tribunal highlighted the necessity for the Assessing Officer to conduct a comprehensive inquiry, considering all relevant aspects and allowing the assessee to substantiate the case, thereby ensuring a just determination of the tax liability. en-us Fri, 29 Nov 2019 00:00:00 +0530 Wed, 13 Nov 2024 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292777 The Tribunal partly allowed the appeal, emphasizing the principles of natural justice and the burden of proof on the assessee. It remitted the matter back to the Assessing Officer for re-adjudication, directing a thorough examination of the genuineness of the transactions and the exemption claim under Section 10(38), ensuring the assessee is given a fair opportunity to present evidence. The Tribunal highlighted the necessity for the Assessing Officer to conduct a comprehensive inquiry, considering all relevant aspects and allowing the assessee to substantiate the case, thereby ensuring a just determination of the tax liability. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292777