ITAT Ahmedabad Remands Case for Proper Adjudication of URD Cash Transactions

Harshang Kaushikkumar Rami Vs ITO (ITAT Ahmedabad) The appeal was filed by Harshang Kaushikkumar Rami against the order dated 21 June 2024 of the CIT(A), National Faceless Appeal Centre (NFAC), Delhi, concerning Assessment Year 2017–18. The assessee challenged (1) the addition of Rs. 5,00,30,946/- as unexplained income under Section 69A of the Income Tax Act and (2) the reopening of assessment under Section 147. The assessee filed a return of income on 16 February 2018, declaring Rs. 2,98,820/-. Information indicated that he held an account with Renuka Mata Multi State Urban Co-operative Cre...