Case Law Details
Sandeep Auraneebadkar Vs ITO (ITAT Hyderabad)
Sandeep Auraneebadkar appealed against the order of the CIT(A) regarding the addition of Rs. 8,73,824 under section 69A of the Income Tax Act for unexplained credit card payments. The assessee claimed that the credit card payments were from his income, past savings, and reimbursement for family expenses. However, the Assessing Officer made the addition due to disbelief in the explanations without sufficient evidence. The ITAT Hyderabad partially allowed the appeal, deleting Rs. 4,73,824 of the total addition and confirming Rs. 4,00,000. The decision was based on the lack of supporting documentation and inadequate explanations by the assessee.
FULL TEXT OF THE ORDER OF ITAT HYDERABAD
The appeal of the assessee for A.Y. 2017-18 arises from the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dt.09.05.2023 invoking proceedings under section 143(3) of the Income Tax Act, 1961 (in short, “the Act”).
2. The grounds raised by the assessee reads as under :
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