Cochin ITAT Restores 68 Addition on Capital Account to AO for Fresh Verification

Syedali Ebrahim Vs ITO (ITAT Cochin)

Cochin ITAT Restores 68 Addition on Capital Account to AO for Fresh Verification- Transfer from Housing Loan to Capital Account Needs Deeper Scrutiny

Assessee challenged the order of CIT(A)/NFAC dated 19.06.2025 which had upheld additions made by AO in scrutiny assessment u/s 143(3). AO assessed income at ₹1,15,31,681 as against returned income of ₹16,04,380, mainly by (a) treating ₹97,27,301 credited in capital account as unexplained u/s 68, & (b) disallowing ₹2,00,000 claimed as loss from self-occupied property.

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