ITAT Pulls Up AO for Ignoring Evidence, Sends ₹31.61 Lakh Addition Back for Verification

Dharmesh Dinesh Shah Vs ACIT (ITAT Mumbai) ITAT Pulls Up AO for Ignoring Evidence – ₹31.61 Lakh Credit Card Addition Sent Back for Fresh Verification In a relief to the assessee, the Mumbai ITAT set aside an addition of ₹31.61 lakh made u/s 68 towards alleged unexplained credit card payments after observing that the AO and CIT(A) failed to properly examine the evidences furnished by the assessee. The Tribunal restored the matter back to the AO for fresh verification. The assessee, who was the Managing Director of a travel company engaged in air ticketing, visa and travel-related serv...