ITAT Sets Aside ₹2.47 Crore Addition Due to Non-Consideration of Additional Evidence

Vimalkumar Prakashchandra Jain Vs ITO (ITAT Ahmedabad)

Rule 46A Evidence Ignored — ITAT Sends ₹2.47 Cr Capital Addition Back for Fresh Verification

Assessee introduced ₹2.47 crore as capital in the partnership firm M/s Vrundavan Corporation. In reassessment u/s 147 r.w.s. 144, the AO treated this capital introduction as unexplained money u/s 69A, mainly because the assessment was completed ex-parte.

Before the CIT(A), Assessee produced detailed evidence, including:

– His personal books,

– Bank statements & cheque details showing funds intro

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