https://www.taxtmi.com/caselaws?id=301098 The Tribunal found that the respondent-assessee had proven the genuineness of the sale of stripes transaction for the assessment year 2006-2008. As the assessee fulfilled the initial burden of proof, the Tribunal dismissed the appeal, stating there was no legal basis to challenge its decision. The judgment underscored the importance of the assessee demonstrating transaction authenticity, with the burden initially on them. The Revenue needed substantial evidence to refute the authenticity, which was not provided in this case. en-us Wed, 09 Jul 2014 00:00:00 +0530 Sat, 12 Mar 2022 08:05:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301098 The Tribunal found that the respondent-assessee had proven the genuineness of the sale of stripes transaction for the assessment year 2006-2008. As the assessee fulfilled the initial burden of proof, the Tribunal dismissed the appeal, stating there was no legal basis to challenge its decision. The judgment underscored the importance of the assessee demonstrating transaction authenticity, with the burden initially on them. The Revenue needed substantial evidence to refute the authenticity, which was not provided in this case. Case-Laws Income Tax Wed, 09 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301098