Unexplained Investment U/S 69A: ITAT Remands Plot Purchase Addition for Factual Verification

Ravinder Singh Brar Vs ITO (ITAT Amritsar)

Who Paid the Builder? -Original Allottee vs Assessee- ITAT Sends 69A Addition Back for Verification

Assessee filed return declaring income of ₹13.64 lakhs. The case was reopened u/s 147 based on information that a residential plot was purchased from M/s Bajwa Developers Ltd.  &  cash payments of ₹1,65,636 were allegedly made during the year. Since there was no response to notices, AO treated ₹1,65,636 as unexplained investment u/s 69A  &  completed assessment u/s 143(3) r.w.s 147.

Before CIT(A), Assessee cha

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