ITAT Grants Final Opportunity: Remits Unexplained Income Case to CIT(A) for Reexamination

Devang Jitendra Mashru Vs ITO (ITAT Mumbai) Introduction: The case of Devang Jitendra Mashru vs ITO (ITAT Mumbai) revolves around the appeal against the CIT(A)’s order for the assessment year 2010-11. The individual assessee, Devang Jitendra Mashru, faced additions to his income, challenging the CIT(A)’s decision. Detailed Analysis: The assessing officer reopened the assessment under section 147 of the Income Tax Act, 1961, as the assessee failed to file the return for AY 2010-11. The officer made additions of Rs. 37,93,000/- on account of unexplained income from the sale of immova...