ITAT Nagpur Remands Case for Fresh Examination of Evidence on Unexplained Investment

Pratik Yogesh Jaiswal Vs ITO (ITAT Nagpur) The Income Tax Appellate Tribunal (ITAT), Nagpur Bench, delivered an order in the case of Pratik Yogesh Jaiswal Vs ITO for the Assessment Year (A.Y.) 2016-17. The appeal concerned two major additions totaling over ₹16.34 lakh made by the Assessing Officer (AO) in the assessment order under Section 143(3) of the Income Tax Act, 1961. The first addition amounted to ₹12,71,730, categorized as ‘unexplained investment’, and the second was ₹3,63,000 for the ‘disallowance of expenses’. Both additions were made due to the assesse...