https://www.taxtmi.com/caselaws?id=469370 Alleged fictitious derivative losses were said to arise from pre-arranged and reversal trades based on Investigation Wing information. The first appellate authority deleted the addition because the assessment order lacked complete particulars of the relied-upon statements and cross-examination had not been afforded. The Tribunal held that these procedural irregularities did not, by themselves, justify deletion at the appellate stage, since the appellate authority has coterminous powers and the matter could be re-examined by the Assessing Officer. The issue was restored for fresh adjudication after supplying the complete statements and granting cross-examination. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 15 Jun 2026 23:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469370 Alleged fictitious derivative losses were said to arise from pre-arranged and reversal trades based on Investigation Wing information. The first appellate authority deleted the addition because the assessment order lacked complete particulars of the relied-upon statements and cross-examination had not been afforded. The Tribunal held that these procedural irregularities did not, by themselves, justify deletion at the appellate stage, since the appellate authority has coterminous powers and the matter could be re-examined by the Assessing Officer. The issue was restored for fresh adjudication after supplying the complete statements and granting cross-examination. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469370