Unexplained Cash Addition Deleted Without Remand Report – ITAT Restores Matter

ITO Vs S3 Tradecom Pvt. Ltd (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) in Ahmedabad has allowed an appeal by the Income Tax Department and sent back the case of S3 Tradecom Pvt. Ltd. to the Commissioner of Income Tax (Appeals) for a fresh hearing. The case involves an addition of Rs. 99,50,160 to the company’s income, which the Assessing Officer (AO) had deemed as unexplained cash deposits under Section 69A of the Income Tax Act, 1961. The ITAT’s decision was based on a procedural lapse: the CIT(A) had passed an order in favor of the company without obtaining a remand re...