https://www.taxtmi.com/caselaws?id=29458 The Tribunal was justified in setting aside the Appellate Assistant Commissioner's order regarding a cash credit entry of Rs. 40,000 in the assessment year 1965-66, deeming it a "bogus loan." The Tribunal directed a fresh inquiry, citing violations by the Income-tax Officer in not providing an opportunity to rebut statements. The Tribunal's decision to remand the case for a full-scale inquiry was upheld, exercising its power judiciously. The court ruled in favor of the Revenue, concluding that the Tribunal's actions were appropriate and not an abuse of power. en-us Tue, 15 Sep 1981 00:00:00 +0530 Sat, 13 Mar 2010 10:40:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29458 The Tribunal was justified in setting aside the Appellate Assistant Commissioner's order regarding a cash credit entry of Rs. 40,000 in the assessment year 1965-66, deeming it a "bogus loan." The Tribunal directed a fresh inquiry, citing violations by the Income-tax Officer in not providing an opportunity to rebut statements. The Tribunal's decision to remand the case for a full-scale inquiry was upheld, exercising its power judiciously. The court ruled in favor of the Revenue, concluding that the Tribunal's actions were appropriate and not an abuse of power. Case-Laws Income Tax Tue, 15 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29458