Maheshbhai Nagjibhai Desai Vs ITO (ITAT Ahmedabad)
In the case of Maheshbhai Nagjibhai Desai Vs ITO, the Income Tax Appellate Tribunal (ITAT), Ahmedabad, reviewed an appeal against the order passed by the Commissioner of Income-tax (Appeals) [CIT(A)], National Faceless Appeal Centre (NFAC), for the assessment year 2012-13. The primary issues involved were the reopening of the assessment under Section 147 of the Income-tax Act, 1961, and the confirmation of an addition of ₹28,50,000 as unexplained investment under Section 69 of the Act. The Assessing Officer (AO) determined the total income of ₹42,40,590, as opposed to the returned income of ₹1,50,820, due to the non-submission of supporting documents regarding property acquisition. The CIT(A) upheld the AO’s order, noting that additional details were not submitted at the assessment stage.
The ITAT, considering the assessee’s plea for an opportunity to present evidence, remanded the matter back to the AO for fresh adjudication. The tribunal emphasized that providing a chance to submit relevant documents would not prejudice the Revenue. It directed the AO to reevaluate the case, taking into account the submissions provided by the assessee. Consequently, the appeal was allowed for statistical purposes, and the order was pronounced on November 29, 2024.
FULL TEXT OF THE ORDER OF ITAT AHMEDABAD
