Unexplained Investment & Loss Set-Off Case Remanded to AO for Lack of Details

Harpreet Kaur Kaushik Manek Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that details relating to unexplained investment and set off loss not furnished by the assessee before AO as well as CIT(A). Hence, matter remanded back to the file of AO. Facts- The assessee has not filed any return of income. As per the information, the reasons were recorded and subsequently the case was reopened u/s. 147 of the Income Tax Act. In response to the notice u/s. 148 of the Act, the assessee did not file any reply. After taking cognisance of the all the submissions/reply, AO held that the margin money being u...