ITAT Sets Aside ₹169.75 Cr Addition Because Parallel Proceedings Arose After Reassessment Was Set Aside

Jatin Kumar Patel Vs ITO (ITAT Ahmedabad) The appeal before the Income Tax Appellate Tribunal, Ahmedabad arose from an order dated 11.08.2025 passed by the National Faceless Appeal Centre (NFAC) for Assessment Year 2014-15. The assessee challenged the validity of the assessment order passed under Section 144 read with Section 263 of the Income-tax Act and the appellate order confirming the addition. The case originated from information flagged under the Risk Management Strategy of the Central Board of Direct Taxes indicating large transactions in the assessee’s bank accounts during Financial...