Unsecured Loan Addition Set Aside Due to Rule 46A Lapse

Manish BhavanjiBheda Vs DCIT (ITAT Mumbai) Addition u/s 68 Set Aside for Fresh Consideration Where CIT(A) Failed to Decide Rule 46A Application The Mumbai ITAT set aside the order of the CIT(A), NFAC, in a case involving additions aggregating to ₹2.16 crore under section 68 on account of unsecured loans. The assessee contended that confirmation letters and supporting documents were attempted to be filed before the AO but were not considered, and that additional evidence was also filed before the CIT(A) under Rule 46A. The Tribunal noted that the CIT(A) had not recorded any finding on the adm...