ITAT Remands Case to CIT(A) for Lack of Discussion on Unexplained Investment

Firoz Pasha Vs ITO (ITAT Delhi)

In the case of Firoz Pasha vs ITO, the Income Tax Appellate Tribunal (ITAT) Delhi dealt with an appeal concerning an unexplained investment of Rs. 29.32 lakh for the assessment year 2012-13. The investment was alleged by the tax authorities to be unexplained, falling under Section 69 of the Income Tax Act, which deals with unexplained investments. The Revenue’s argument was that the investment was made in two immovable properties during the financial year 2011-12. The Assessing Officer had added this sum to the assessee’s total i

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