https://www.taxtmi.com/caselaws?id=417497 The Tribunal dismissed the departmental appeals, confirming the Ld. CIT(A)'s decision to delete the addition of Rs. 2,43,12,000/-. The Tribunal found that the AO's addition lacked concrete evidence and burden of proof regarding actual consideration was not met by the Revenue. Lack of independent inquiry and denial of cross-examination violated principles of natural justice. The appeals were dismissed, upholding the Ld. CIT(A)'s findings. en-us Tue, 21 Dec 2021 00:00:00 +0530 Tue, 01 Feb 2022 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417497 The Tribunal dismissed the departmental appeals, confirming the Ld. CIT(A)'s decision to delete the addition of Rs. 2,43,12,000/-. The Tribunal found that the AO's addition lacked concrete evidence and burden of proof regarding actual consideration was not met by the Revenue. Lack of independent inquiry and denial of cross-examination violated principles of natural justice. The appeals were dismissed, upholding the Ld. CIT(A)'s findings. Case-Laws Income Tax Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417497