Court Rules Assessee Not Responsible for Unexplained Transactions They Didn't Conduct; Limits on Reassessment Based on External Info.

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....Validity of reassessment proceedings - transactions of commodity/derivatives trading - How can the assessee be expected to prove the negative? The assessee could be expected to give explanation for the transactions carried out by it. It could not be expected to give explanation for the transactions not carried out by it, merely because some information had already been received by the Ld. AO from the Investigation Wing, Kolkata. - AT....