ITAT remands Case for Verification of Unexplained Investment and Loss Set-Off due to Insufficient Evidence [Read Order]

The AO had added 8% of the turnover as unexplained investment, which the tribunal found to be based on incomplete evidence.
ITAT - ITAT Remands - Income Tax Appellate Tribunal - Unexplained Investment - Income Tax - Unexplained Investment and Loss Set-Off - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case back to the Assessing Officer (AO) for verification of the unexplained investment and loss set-off due to insufficient evidence provided by the assessee. Harpreet Kaur Kaushik Manek,appellant-assessee,failed to file an income tax return for the relevant assessment year. Despite a system-generated…

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