https://www.taxtmi.com/caselaws?id=419024 The Tribunal directed the matter to be restored to the Assessing Officer for proper examination of evidences and investigations regarding the addition under sec. 68. The Tribunal emphasized the importance of thorough examination of evidences before concluding transactions as not genuine, allowing the directors of the assessee-company to appear if necessary. The assessment order was deemed hasty, requiring a de novo assessment with proper enquiries. The appeal for leave to add, alter, or withdraw any ground/s of appeal was not explicitly addressed, with the focus primarily on the substantive issues related to the addition under sec. 68 and the validity of the assessment. en-us Mon, 07 Feb 2022 00:00:00 +0530 Wed, 02 Mar 2022 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419024 The Tribunal directed the matter to be restored to the Assessing Officer for proper examination of evidences and investigations regarding the addition under sec. 68. The Tribunal emphasized the importance of thorough examination of evidences before concluding transactions as not genuine, allowing the directors of the assessee-company to appear if necessary. The assessment order was deemed hasty, requiring a de novo assessment with proper enquiries. The appeal for leave to add, alter, or withdraw any ground/s of appeal was not explicitly addressed, with the focus primarily on the substantive issues related to the addition under sec. 68 and the validity of the assessment. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419024