Ex-parte Addition on Unexplained Investment: ITAT directs Re adjudication of Addition towards source of Investment in Purchase of Immovable Property [Read Order]

By Aparna. M - On September 16, 2023 1:30 pm - 2 mins read
Ex-parte - Unexplained- Investment-ITAT - Re adjudication - Addition -Investment - Purchase -Immovable- Property -TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Delhi bench directed readjudication in respect of additions made  under Section 69 of the Income Tax Act, 1961 towards source of investment in the purchase of immovable property by observing the ex parte addition on the unexplained investment made by the lower authority. There was a Tax Evasion Petition (TEP)…

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