https://www.taxtmi.com/caselaws?id=417140 The court quashed the assessment order due to procedural non-compliance under Section 144B and violations of natural justice principles. The matter was remitted to the Assessing Officer for a fresh assessment, emphasizing the need for a reasoned order considering all relevant aspects and the petitioner's submissions within eight weeks. The court highlighted the importance of following procedural requirements and natural justice principles in assessments, shifting the burden of proof to the AO to verify the creditworthiness and genuineness of partners in cases of unexplained cash credits under Section 68 of the Income Tax Act. en-us Mon, 03 Jan 2022 00:00:00 +0530 Thu, 28 Apr 2022 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417140 The court quashed the assessment order due to procedural non-compliance under Section 144B and violations of natural justice principles. The matter was remitted to the Assessing Officer for a fresh assessment, emphasizing the need for a reasoned order considering all relevant aspects and the petitioner's submissions within eight weeks. The court highlighted the importance of following procedural requirements and natural justice principles in assessments, shifting the burden of proof to the AO to verify the creditworthiness and genuineness of partners in cases of unexplained cash credits under Section 68 of the Income Tax Act. Case-Laws Income Tax Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417140