https://www.taxtmi.com/caselaws?id=294298 The appeal was partly allowed for statistical purposes, and the issues regarding the exemption claim under section 10(38) were remitted back to the Assessing Officer for re-adjudication. The Tribunal emphasized the importance of the assessee proving the genuineness of transactions and highlighted the necessity for a fair opportunity to present evidence. The Assessing Officer was directed to consider all aspects, conduct necessary inquiries, and make a decision in line with the law and Tribunal's directions, ensuring compliance with legal precedents. en-us Wed, 04 Mar 2020 00:00:00 +0530 Sun, 04 Apr 2021 14:53:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294298 The appeal was partly allowed for statistical purposes, and the issues regarding the exemption claim under section 10(38) were remitted back to the Assessing Officer for re-adjudication. The Tribunal emphasized the importance of the assessee proving the genuineness of transactions and highlighted the necessity for a fair opportunity to present evidence. The Assessing Officer was directed to consider all aspects, conduct necessary inquiries, and make a decision in line with the law and Tribunal's directions, ensuring compliance with legal precedents. Case-Laws Income Tax Wed, 04 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294298