Cryptic AO Order on ₹1.45 Cr Addition U/s 68 Remanded by ITAT Kolkata

Rajal Lefin & Commercial Pvt. Ltd. Vs ITO (ITAT Kolkata) Cryptic Section 68 Addition of ₹1.45 Cr Remanded – Non-Speaking Order Set Aside ITAT Grants Assessee Fresh Opportunity AO framed assessment u/s 143(3) on 23.12.2019, making an addition of ₹1.45 crore u/s 68 (unexplained cash credits). AO held that the assessee failed to prove necessary ingredients of Section 68 despite several opportunities. The order was termed as cryptic, with little reasoning beyond stating non-compliance. CIT(A) did not examine the merits, dismissing appeal solely due to 17-day delay. Tribunal’s Observati...