https://www.taxtmi.com/caselaws?id=433468 The Tribunal partly allowed the appeal, directing the AO to verify the assessee's claims with corroborative evidence and consider the nature of the scrap trading business in assessing transactions. Issues regarding reliance on third-party statements without evidence were restored for verification, emphasizing fair assessment practices. The Tribunal upheld certain findings of the CIT(A) and stressed the importance of providing opportunities for rebuttal and cross-examination to ensure a just assessment process. en-us Thu, 19 Jan 2023 00:00:00 +0530 Tue, 31 Jan 2023 08:35:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433468 The Tribunal partly allowed the appeal, directing the AO to verify the assessee's claims with corroborative evidence and consider the nature of the scrap trading business in assessing transactions. Issues regarding reliance on third-party statements without evidence were restored for verification, emphasizing fair assessment practices. The Tribunal upheld certain findings of the CIT(A) and stressed the importance of providing opportunities for rebuttal and cross-examination to ensure a just assessment process. Case-Laws Income Tax Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433468