ITAT Deletes Unexplained Investment Addition as Investments Were Already in Balance Sheet

Madhuban Urban Credit Co–operative Society Pvt. Ltd. Vs DCIT (ITAT Nagpur) The Income Tax Appellate Tribunal (ITAT), Nagpur, allowed the appeal filed by the assessee against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2018-19. The appeal involved additions towards unexplained investment, disallowance of commission expenses, classification of income, set-off of business losses, and deduction under Section 80P of the Income-tax Act. Regarding the addition of ₹7,73,69,751 as unexplained investment, the CIT(A) had upheld the Assessing Officer’s order on the ...