https://www.taxtmi.com/caselaws?id=430632 The Tribunal set aside both the rectification order and the appellate order by the CIT(A) and remitted the matter back to the AO for fresh determination in accordance with the law. The AO was directed to verify if the transactions met the conditions under Section 43(5)(e) and to issue definite findings of fact after allowing the assessee a reasonable opportunity of being heard. The Tribunal emphasized the need for the AO to make a proper inquiry and verification to bring the assessment in conformity with the law. en-us Mon, 21 Nov 2022 00:00:00 +0530 Tue, 22 Nov 2022 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430632 The Tribunal set aside both the rectification order and the appellate order by the CIT(A) and remitted the matter back to the AO for fresh determination in accordance with the law. The AO was directed to verify if the transactions met the conditions under Section 43(5)(e) and to issue definite findings of fact after allowing the assessee a reasonable opportunity of being heard. The Tribunal emphasized the need for the AO to make a proper inquiry and verification to bring the assessment in conformity with the law. Case-Laws Income Tax Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430632