AIR Additions Without Disclosure Invalid; Assessment Remanded for Fresh Hearing

Bobby Yogendra Sharma Vs ACIT/ITO (ITAT Mumbai) AIR-Based Additions Made Without Sharing Underlying Data—Ex-Parte 147/144 Set Aside; AO Directed to Provide Full AIR Particulars & Re-do Assessment  The Assessee challenged the NFAC order dated 04.08.2023 arising from an ex-parte reassessment u/s 147 r.w.s. 144, wherein the AO treated ₹12.08 crore as undisclosed income based solely on Annual Information Return (AIR) entries. Facts & Additions The AO noted multiple AIR-reported transactions and, without receiving any explanation from the Assessee, added the entire aggregate amount: P...