ITAT Remands Unexplained Cash Addition Case for Fresh Verification for Failure to Verify Evidence

Arunbhai Chhaganbhai Patel Vs ITO (ITAT Ahmedabad) The case before the ITAT Ahmedabad concerned an appeal filed by an assessee against the CIT (A)’s order for Assessment Year 2019-20. The assessee had not filed a return of income despite being identified under the Risk Management Strategy for various transactions, leading to the issuance of a notice under Section 148 of the Income Tax Act, 1961. The assessee failed to comply with statutory notices, stating they were not in India during the assessment period. The Assessing Officer (AO) inferred from the partly-replied bank statement that...