ITAT Remands Section 69 Addition as Additional Evidence on PACS Transactions Required Verification

Satyanarayana Voora Thimmapuram Vs ITO (ITAT Hyderabad) The appeal before the Income Tax Appellate Tribunal was filed by Shri Satyanarayana Voora against the order passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, dated 18.03.2025 for Assessment Year 2016-17. The assessee challenged the addition of Rs.58.06 lakh made under Section 69 of the Income Tax Act, 1961 and the application of Section 115BBE. The assessee contended that the authorities failed to properly appreciate documentary evidence explaining the nature and source of the cash deposits and fu...