Vandana Dipakbhai Parmar Vs ACIT (ITAT Ahmedabad)
In the case of Vandana Dipakbhai Parmar vs. ACIT (ITAT Ahmedabad), the Assessee challenged the addition of ₹18,19,630 made under Section 69 of the Income-tax Act, 1961, for the Assessment Year 2018-19. The Assessing Officer (AO) had determined the total income by adding unexplained investments in immovable property (₹13,17,955) and shares (₹5,01,672). The additions were upheld by the Commissioner of Income-tax (Appeals) [CIT(A)] as the Assessee failed to provide sufficient evidence to explain the sources of these investments. Subsequently, the Assessee appealed to the Tribunal, arguing that the investments were explainable and supported by relevant documents. The Tribunal observed that no substantial evidence had been presented before the CIT(A) to counter the AO’s findings. However, it noted that a proper examination of the investments could be conducted if the Assessee is given an opportunity to submit detailed documentation. The Tribunal directed the AO to re-examine the matter by issuing valid notices and allowing the Assessee to present evidence. It also emphasized the importance of compliance with notices and timely submission of documents by the Assessee. Consequently, the Tribunal allowed the appeal for statistical purposes, remanding the matter to the AO for further verification.
