https://www.taxtmi.com/caselaws?id=422869 The Tribunal allowed the assessee's appeal by remanding the matter back to the Assessing Officer for fresh adjudication. The Tribunal admitted additional evidences filed by the assessee, including confirmation letters and identity documents, to determine the genuineness of share application money transactions. The Tribunal emphasized principles of natural justice in providing a fair opportunity for the assessee to prove the authenticity of the transactions. Additionally, the issue regarding the treatment of sundry creditors under section 41(1) was set aside to the file of the AO for re-examination, allowing both appeals for statistical purposes. en-us Wed, 04 May 2022 00:00:00 +0530 Tue, 24 May 2022 11:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422869 The Tribunal allowed the assessee's appeal by remanding the matter back to the Assessing Officer for fresh adjudication. The Tribunal admitted additional evidences filed by the assessee, including confirmation letters and identity documents, to determine the genuineness of share application money transactions. The Tribunal emphasized principles of natural justice in providing a fair opportunity for the assessee to prove the authenticity of the transactions. Additionally, the issue regarding the treatment of sundry creditors under section 41(1) was set aside to the file of the AO for re-examination, allowing both appeals for statistical purposes. Case-Laws Income Tax Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422869