https://www.taxtmi.com/caselaws?id=464646 ITAT KOLKATA - AT allowed the appeal, quashing reopening under section 148 and the consequential additions treating unsecured loans as bogus. The Tribunal found the AO lacked sufficient material to form belief that income escaped assessment and relied solely on third-party statements without supplying details to or permitting cross-examination by the assessee. That denial of opportunity violated principles of natural justice, rendering the order nullity. Reliance was placed on HC and SC precedents affirming that adverse orders based on witnesses' statements without cross-examination are legally infirm. en-us Wed, 25 Sep 2024 00:00:00 +0530 Fri, 07 Nov 2025 20:13:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464646 ITAT KOLKATA - AT allowed the appeal, quashing reopening under section 148 and the consequential additions treating unsecured loans as bogus. The Tribunal found the AO lacked sufficient material to form belief that income escaped assessment and relied solely on third-party statements without supplying details to or permitting cross-examination by the assessee. That denial of opportunity violated principles of natural justice, rendering the order nullity. Reliance was placed on HC and SC precedents affirming that adverse orders based on witnesses' statements without cross-examination are legally infirm. Case-Laws Income Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464646