https://www.taxtmi.com/caselaws?id=416154 The Tribunal found in favor of the HUF assessee, emphasizing compliance with natural justice principles in assessment proceedings under section 147 of the Income Tax Act. It directed the Assessing Officer to provide the assessee with a reasonable opportunity to explain the source of margin money, highlighting the importance of procedural fairness and adherence to legal requirements. The Tribunal allowed the appeal for statistical purposes, stressing the significance of giving the assessee a fair chance to present its case and making decisions based on facts and law. en-us Fri, 24 Sep 2021 00:00:00 +0530 Fri, 20 Feb 2026 17:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416154 The Tribunal found in favor of the HUF assessee, emphasizing compliance with natural justice principles in assessment proceedings under section 147 of the Income Tax Act. It directed the Assessing Officer to provide the assessee with a reasonable opportunity to explain the source of margin money, highlighting the importance of procedural fairness and adherence to legal requirements. The Tribunal allowed the appeal for statistical purposes, stressing the significance of giving the assessee a fair chance to present its case and making decisions based on facts and law. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416154