https://www.taxtmi.com/caselaws?id=416063 The Court dismissed the appeal challenging the ITAT's decision regarding the genuineness of a sale transaction related to a shop in Cross River Mall. The Court found that the ITAT's decision was supported by cogent reasoning, emphasizing the lack of corroborative evidence and the absence of a nexus between the seized material and the assessee. Additionally, the Court noted discrepancies in the seized material and the lack of proof of payment receipt by the assessee. The dismissal of the appeal was further supported by the Supreme Court's refusal to entertain a Special Leave Petition, affirming the ITAT's decision on jurisdictional and evidentiary grounds. en-us Wed, 15 Dec 2021 00:00:00 +0530 Mon, 20 Dec 2021 09:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416063 The Court dismissed the appeal challenging the ITAT's decision regarding the genuineness of a sale transaction related to a shop in Cross River Mall. The Court found that the ITAT's decision was supported by cogent reasoning, emphasizing the lack of corroborative evidence and the absence of a nexus between the seized material and the assessee. Additionally, the Court noted discrepancies in the seized material and the lack of proof of payment receipt by the assessee. The dismissal of the appeal was further supported by the Supreme Court's refusal to entertain a Special Leave Petition, affirming the ITAT's decision on jurisdictional and evidentiary grounds. Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416063