1996 (8) TMI 562 - HC - Income Tax

Summary

The High Court of Gauhati was asked to consider whether the Tribunal was justified in reversing the decision of the Commissioner (Appeals) without independent consideration. The assessee received a sum of Rs. 1,25,000 from a creditor, with proper documentation, but the Assessing Officer still added this amount under section 68 of the Income-tax Act. The Commissioner (Appeals) ruled in favor of the assessee, but the Tribunal reversed this decision without proper discussion. The High Court, following precedent, ruled in favor of the assessee. (Case citation: 1996 (8) TMI 562 - GAUHATI HIGH COURT)