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Rajat Export Import (India) Pvt. Ltd. v. ITO ( Delhi)(Trib),www.itatonline.org

S. 68: Cash credits – Bogus share capital-Failure by the AO to offer cross-examination of the persons whose statements are relied upon means that no adverse inference can be drawn against the assessee. Dept’s plea for a remand is not acceptable if the assessee has discharged primary onus .

Allowing the appeal of the assessee the Tribunal held that; failure by the AO to offer cross-examination of the persons whose statements are relied upon means that no adverse inference can be drawn against the assessee. Dept’s plea for a remand is not acceptable if the assessee has discharged primary onus .( ITA No. 5637/Del/2013, dt. 01.10.2018)( AY. 2004-05)

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