Premature Order: ITAT Restores ₹4.78 Cr Addition Case, Imposes ₹10,000 Cost on Assessee

Kansara Popatlal Tibhovandas Metal Pvt Ltd Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad Restores ₹4.78 Cr Addition Case – Assessee to Pay ₹10,000 Cost- Premature Order Violates Natural Justice – Tribunal Remands Case to CIT(A) Assessee, a private limited company engaged in manufacturing, filed its return declaring income of ₹35.21 lakh. During scrutiny, AO noticed sundry creditors of ₹10.52 crore. As assessee failed to furnish confirmations, PAN, ITRs & bank details for many creditors, AO treated ₹4.52 crore as unexplained cash credits u/s 68. Further, creditors of ₹24.47 lakh (...