https://www.taxtmi.com/caselaws?id=429489 The Tribunal allowed the appeals filed by the Assessing Officer and the cross objections filed by the assessee for statistical purposes. The case was remanded back to the Assessing Officer with directions for the assessee to establish the identity, creditworthiness, and genuineness of the transactions. The Assessing Officer was instructed to reevaluate the claim in light of various statements of entry operators and make a fresh decision in accordance with the law. The Tribunal stressed the importance of a detailed examination of the facts and the correct application of Section 68 in the hands of the appropriate assessee. en-us Thu, 27 Oct 2022 00:00:00 +0530 Fri, 28 Oct 2022 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429489 The Tribunal allowed the appeals filed by the Assessing Officer and the cross objections filed by the assessee for statistical purposes. The case was remanded back to the Assessing Officer with directions for the assessee to establish the identity, creditworthiness, and genuineness of the transactions. The Assessing Officer was instructed to reevaluate the claim in light of various statements of entry operators and make a fresh decision in accordance with the law. The Tribunal stressed the importance of a detailed examination of the facts and the correct application of Section 68 in the hands of the appropriate assessee. Case-Laws Income Tax Thu, 27 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429489