ITAT Pune Remands Case for Fresh Assessment on Unexplained Investment

Siddikha M. Pathan Vs ITO (ITAT Pune) In a notable judgment, the Income Tax Appellate Tribunal (ITAT) Pune, in the case of Siddikha M. Pathan Vs Income Tax Officer, dealt with an appeal concerning the assessment year 2011-12. The appeal, which was delayed by 316 days, was admitted after the ITAT was satisfied with the reasons for the delay provided by the assessee. The core issue revolved around the confirmation of an addition of Rs. 28,25,000/- by the Assessing Officer (AO) under section 69 of the Income-tax Act, 1961, deemed as unexplained investment. Case Background: The case surfaced duri...