ITAT Pune Deletes Addition for Credit Card Payments After Source Explained

Mahendra Prakash Pawar Vs ITO (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench, in the case of Mahendra Prakash Pawar Vs Income Tax Officer (ITO), has deleted the addition of ₹21,69,933/- made under Section 69C of the Income-tax Act, 1961, as unexplained investment for credit card payments. The Tribunal ruled that the assessee successfully explained the source of the cash used to clear the credit card dues. Factual Background and Assessment The case pertained to the Assessment Year (A.Y.) 2017-18. The assessee, Mahendra Prakash Pawar, is a salaried employee who filed a return...