ITAT Mumbai Restores Rs. 34.31 Lakh Section 68 Cash Credit Case for Fresh Hearing

Kiran Anil Gothi Vs ITO (ITAT Nagpur) Income Tax Appellate Tribunal (ITAT) Nagpur bench has, in a recent order, remanded the appeal of Kiran Anil Gothi against the Income Tax Officer (ITO) for the assessment year 2018-19. The case, which revolves around an addition of ₹34,31,971 as cash credit under Section 68 read with Section 115BBE of the Income Tax Act, 1961, will now return to the Commissioner of Income Tax (Appeals) (CIT(A)) for fresh consideration. The dispute originated during the assessment proceedings when the assessee, Kiran Anil Gothi, reported ₹34,31,971 as commission receipts...