ITAT Nagpur Deletes ₹20.32 Lakh Addition as Unexplained Investment Lacks Evidence

Pradip Gangadharrao Bhude Vs ITO (ITAT Nagpur) ITAT Nagpur Deletes Rs.20.32 Lakh Addition – Only Rs.4 Lakh Investment Proved by Bank Records- Addition Without Evidence Unsustainable –  CIT(A) Dismissal in Limine Quashed – Tribunal Deletes Entire 69 Addition Assessee filed appeal against order of CIT(A)  confirming addition of Rs.20,32,500/- u/s 69 as unexplained investment. There was a delay of 489 days in filing the appeal which Assessee explained through affidavit stating that earlier counsel had received CIT(A)’s order but failed to communicate & file appeal. On coming to know...