https://www.taxtmi.com/caselaws?id=761261 Gujarat HC held that AO erred in ignoring petitioner's timely reply regarding unsecured loan under section 68. Despite petitioner filing response within granted time and seeking additional time for remaining information, AO passed assessment order claiming non-compliance with show cause notice without considering the detailed reply. Court quashed the impugned assessment order and remanded matter to AO for fresh de novo proceedings. en-us Mon, 14 Oct 2024 00:00:00 +0530 Thu, 07 Nov 2024 08:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761261 Gujarat HC held that AO erred in ignoring petitioner's timely reply regarding unsecured loan under section 68. Despite petitioner filing response within granted time and seeking additional time for remaining information, AO passed assessment order claiming non-compliance with show cause notice without considering the detailed reply. Court quashed the impugned assessment order and remanded matter to AO for fresh de novo proceedings. Case-Laws Income Tax Mon, 14 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761261