ITAT Mumbai Sets Aside ₹8.9 Cr Loan Addition for Non-Service of Notices via Dysfunctional Email

PCL Estates Private Limited Vs ITO (ITAT Mumbai) Email Glitch Denied Fair Hearing — ITAT Restores ₹8.9 Cr Loan Addition Case to CIT(A) Assessee, engaged in real estate, filed its return declaring investments of ₹9.36 crore &  unsecured loans aggregating ₹8.67 crore. AO treated the entire ₹8.90 crore as unexplained cash credit u/s 68, citing lack of evidence on the genuineness of loans received from M/s Flavour & Fragrance Ingredients &  M/s Kukreja Construction Co. Before CIT(A), Assessee did not attend the hearings, allegedly because the email ID registered was non-fun...