https://www.taxtmi.com/caselaws?id=458624 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It concluded that the notice under Section 148 was invalid due to incorrect service and lack of jurisdiction by the ITO, New Delhi. The Tribunal also found that the department failed to prove the alleged bogus transactions and denied the assessee's right to cross-examine witnesses, violating principles of natural justice. The burden of proof regarding transaction genuineness rested with the department, which could not rely on assumptions without concrete evidence. The Tribunal emphasized the lack of jurisdiction, invalid notice, and failure to substantiate allegations, finding no merit in the department's contentions. en-us Thu, 06 Oct 2005 00:00:00 +0530 Sat, 09 Nov 2024 10:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458624 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s order. It concluded that the notice under Section 148 was invalid due to incorrect service and lack of jurisdiction by the ITO, New Delhi. The Tribunal also found that the department failed to prove the alleged bogus transactions and denied the assessee's right to cross-examine witnesses, violating principles of natural justice. The burden of proof regarding transaction genuineness rested with the department, which could not rely on assumptions without concrete evidence. The Tribunal emphasized the lack of jurisdiction, invalid notice, and failure to substantiate allegations, finding no merit in the department's contentions. Case-Laws Income Tax Thu, 06 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458624