Rule 46A Violated: Rs. 20 Cr Loan Additions Sent Back for Inquiry

DCIT Vs Dipti Narendra Lulla (ITAT Pune)

46A Violated -CIT(A) Relief Without Enquiry Falls — ITAT Sends Back Rs.20-Cr Loan Additions for Fresh Verification

Pune Tribunal dealt with Revenue’s challenge to deletion of major additions relating to unsecured loans, interest & squared-up loans. Assessee, who took over the proprietary concern Grace Enterprises after her husband’s demise, had shown unsecured loans of Rs.5,16,85,602, interest of Rs.87,01,674 & squared-up loans of Rs.14,55,15,356. AO held that Assessee failed to establish identity &

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