https://www.taxtmi.com/caselaws?id=434974 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to quash the assessment order passed under Section 144 of the Income Tax Act, 1961. It also supported the deletion of the addition of Rs. 2,31,35,000/- claimed by the assessee. The Tribunal found that the Assessing Officer did not conduct adequate independent inquiries to disprove the evidence provided by the assessee, and concluded that the transactions were genuine based on the documentary evidence presented. The appeal filed by the Revenue was dismissed, affirming the CIT(A)'s decisions. en-us Fri, 03 Mar 2023 00:00:00 +0530 Thu, 09 Mar 2023 08:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434974 The Tribunal upheld the decision of the Commissioner of Income-tax (Appeals) to quash the assessment order passed under Section 144 of the Income Tax Act, 1961. It also supported the deletion of the addition of Rs. 2,31,35,000/- claimed by the assessee. The Tribunal found that the Assessing Officer did not conduct adequate independent inquiries to disprove the evidence provided by the assessee, and concluded that the transactions were genuine based on the documentary evidence presented. The appeal filed by the Revenue was dismissed, affirming the CIT(A)'s decisions. Case-Laws Income Tax Fri, 03 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434974