ITAT Partially Deletes Unexplained Credit Card Payment Addition

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 decisio...