https://www.taxtmi.com/caselaws?id=783192 The ITAT set aside the addition for unexplained cryptocurrency transactions and remanded the matter to the AO. It held that, since assessee denied having entered into the impugned Koinex transactions and no linked bank account was identified, the Department must confront the assessee with all material in its possession, including complete transaction statements from Koinex. Only after affording a fair opportunity to rebut such evidence can the AO validly determine whether the transactions and corresponding investments are attributable to the assessee. The AO was directed to pass a de novo order in accordance with law. The appeal was allowed for statistical purposes. en-us Fri, 28 Nov 2025 00:00:00 +0530 Thu, 11 Dec 2025 08:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783192 The ITAT set aside the addition for unexplained cryptocurrency transactions and remanded the matter to the AO. It held that, since assessee denied having entered into the impugned Koinex transactions and no linked bank account was identified, the Department must confront the assessee with all material in its possession, including complete transaction statements from Koinex. Only after affording a fair opportunity to rebut such evidence can the AO validly determine whether the transactions and corresponding investments are attributable to the assessee. The AO was directed to pass a de novo order in accordance with law. The appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783192