Non-Reasoned Order: ITAT Remands ₹70.25 Lakh Foreign Remittance Addition Case to CIT(A)

Nadukkandi Kunhabdulla Raheena Manzil Vs ITO (ITAT Cochin) SEO Title: ITAT Remands ₹70.25 Lakh Foreign Remittance Case to CIT(A) Summary: The Income Tax Appellate Tribunal (ITAT) Cochin has remanded the case of Nadukkandi Kunhabdulla Raheena Manzil v. ITO back to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication. The case pertains to the addition of ₹70.25 lakh as unexplained foreign remittances to the assessee’s NRO and NRE accounts for Assessment Year (AY) 2014-15. The AO rejected the assessee’s explanation that the amount represented business sale proceeds...