https://www.taxtmi.com/caselaws?id=428818 The Court upheld the challenged assessment orders for AY 2012-13 under the Income Tax Act, 1961, related to loans from R.Srinivasan, dismissing the petitions. The assessments of both the petitioner and Srinivasan were intertwined due to cash credits, with pending statutory appeals. The petitioner's company also faced dismissal of challenges from earlier years, emphasizing the interconnected issues. Despite concerns over natural justice violations in response time, the Court maintained the assessments but granted the petitioner liberty to appeal within two weeks. All related appeals were to be consolidated for joint hearing, with no costs imposed. en-us Mon, 12 Sep 2022 00:00:00 +0530 Tue, 11 Oct 2022 08:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428818 The Court upheld the challenged assessment orders for AY 2012-13 under the Income Tax Act, 1961, related to loans from R.Srinivasan, dismissing the petitions. The assessments of both the petitioner and Srinivasan were intertwined due to cash credits, with pending statutory appeals. The petitioner's company also faced dismissal of challenges from earlier years, emphasizing the interconnected issues. Despite concerns over natural justice violations in response time, the Court maintained the assessments but granted the petitioner liberty to appeal within two weeks. All related appeals were to be consolidated for joint hearing, with no costs imposed. Case-Laws Income Tax Mon, 12 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428818