https://www.taxtmi.com/caselaws?id=421237 The Tribunal set aside the Commissioner of Income Tax (Appeals) orders for quantum additions under sections 68 and 69 of the Income Tax Act, remitting the matter for fresh adjudication to allow the assessee to substantiate its case. The Tribunal also directed a fresh adjudication for the penalty imposed under section 271(1)(c) of the Act, granting the assessee an opportunity to present its case. Both appeals were allowed for statistical purposes, emphasizing the importance of natural justice and providing the assessee with a chance to be heard and defend its position. en-us Tue, 12 Apr 2022 00:00:00 +0530 Wed, 20 Apr 2022 08:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421237 The Tribunal set aside the Commissioner of Income Tax (Appeals) orders for quantum additions under sections 68 and 69 of the Income Tax Act, remitting the matter for fresh adjudication to allow the assessee to substantiate its case. The Tribunal also directed a fresh adjudication for the penalty imposed under section 271(1)(c) of the Act, granting the assessee an opportunity to present its case. Both appeals were allowed for statistical purposes, emphasizing the importance of natural justice and providing the assessee with a chance to be heard and defend its position. Case-Laws Income Tax Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421237