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2016 (7) TMI 1389 - AT - Income TaxAssessment of purchase value of shares as income of the assessee - addition relating to estimated expenditure - denial of natural justice - Held that:- AO was not justified in not affording the opportunity of cross examination to the assessees herein and the said action of the AO violates the principles of natural justice. Further, as submitted by the Ld A.R, the assessing officer has made the impugned additions only on the basis of statement given by Shri Mukesh Choksi. Accordingly, it is of the view that the assessees herein should be provided with adequate opportunity to crossexamine Shri Mukesh Chokashi. Appeal filed by the assessee is treated as allowed for statistical purposes.
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