https://www.taxtmi.com/caselaws?id=775036 The ITAT Mumbai allowed the assessee's appeal for statistical purposes regarding addition of unsecured loan as unexplained income under Section 69A read with Section 115BBE. The tribunal found that additional evidence could not be filed before lower authorities as the relevant letters and repayment occurred after their orders. While the assessee had filed an MOU dated 07.12.2021 and affidavit before lower authorities, the AO failed to examine the affiant despite the filed affidavit. The lower authorities relied solely on seized documents for making the addition without proper examination. Following precedent from another case, the tribunal restored the matter to the AO for fresh adjudication, noting that proper examination of evidence was warranted. en-us Thu, 03 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775036 The ITAT Mumbai allowed the assessee's appeal for statistical purposes regarding addition of unsecured loan as unexplained income under Section 69A read with Section 115BBE. The tribunal found that additional evidence could not be filed before lower authorities as the relevant letters and repayment occurred after their orders. While the assessee had filed an MOU dated 07.12.2021 and affidavit before lower authorities, the AO failed to examine the affiant despite the filed affidavit. The lower authorities relied solely on seized documents for making the addition without proper examination. Following precedent from another case, the tribunal restored the matter to the AO for fresh adjudication, noting that proper examination of evidence was warranted. Case-Laws Income Tax Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775036