₹481L Housing Loan Repayment Treated As Unexplained U/S 69C: ITAT Remands Matter To AO For Reassessment After Reviewing Assessee’s Evidence

The ITAT remanded a case where ₹4.81 crore housing loan repayment was treated as unexplained income under Section 69C. The tribunal found the assessee’s evidence insufficiently scrutinised and directed reassessment by AO. It held that where cash repayments are involved, AO must carefully evaluate documentary or third-party corroboration before invoking unexplained income provisions.