ITAT Remands ₹1.57 Cr Addition as NRE Deposit Evidence Not Properly Examined

Piyush Bavanjibhai Viradia Vs ITO (ITAT Ahmedabad) The appeal before the Income Tax Appellate Tribunal, Ahmedabad, arose from an assessment order dated 24.09.2025 passed under Section 147 read with Section 144C(13) of the Income Tax Act, 1961 for Assessment Year 2020–21. The assessee, a Non-Resident Indian, was subjected to additions of ₹1.50 crore on account of unexplained time deposits in an HDFC Bank account and ₹7,26,547 as unexplained credits in a Kotak Mahindra Bank account. These additions were initially proposed in a draft assessment order under Section 144C(1) due to lack of exp...