https://www.taxtmi.com/caselaws?id=449090 ITAT Indore ruled in favor of the assessee regarding unaccounted interest payment on cash loans during search and seizure under section 132. The AO made additions based on loose papers seized from employee's premises and employee's statement without allowing the assessee to cross-examine the witness. CIT(A) deleted the addition, treating the tally account as dummy training document with no evidentiary value. ITAT upheld CIT(A)'s decision, holding that using statements and evidence without providing cross-examination opportunity violates natural justice principles, rendering the assessment order nullity. The revenue's appeal was dismissed. en-us Wed, 13 Dec 2023 00:00:00 +0530 Mon, 12 Feb 2024 06:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449090 ITAT Indore ruled in favor of the assessee regarding unaccounted interest payment on cash loans during search and seizure under section 132. The AO made additions based on loose papers seized from employee's premises and employee's statement without allowing the assessee to cross-examine the witness. CIT(A) deleted the addition, treating the tally account as dummy training document with no evidentiary value. ITAT upheld CIT(A)'s decision, holding that using statements and evidence without providing cross-examination opportunity violates natural justice principles, rendering the assessment order nullity. The revenue's appeal was dismissed. Case-Laws Income Tax Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449090