In the result, the appeal of the assessee is allowed for statistical purposes
Bench: Shri Siddhartha Nautiyal & Shri Bhagirath Mal Biyani
reassessment proceedings, the Assessing Officer issued several notices under section 142(1) of the Act and also a show cause notice, granting multiple opportunities to the assessee to explain the nature and genuineness of the transactions. Despite these opportunities, the assessee failed to furnish satisfactory explanations or supporting Indira Bai Jindal vs. ITO A.Y. 2013-14 documentary evidence