CIT(A) Cannot Rubber-Stamp AO’s Order: ITAT remands Rs 82 Cr Additions

Sanjeev Jai Narain Aeren Vs ACIT (ITAT Delhi) CIT(A) Cannot Rubber-Stamp AO’s Order- Non-Speaking CIT(A) Order in 153C Proceedings Set Aside by ITAT Delhi In a significant ruling, Delhi ITAT has remanded back the case of holding that CIT(A) had failed to pass a reasoned & speaking order while confirming massive additions running into more than Rs 82 crore. Assessee , an individual, had originally filed his return of income declaring a modest figure of Rs 3.14 lakh. However, pursuant to a search conducted on the Rakesh Jain Group on 2nd November 2017, certain loose papers allegedly belong...