Reassessment Without Proper Consideration of Evidence: ITAT Restores Rs.15.88 Lakh Addition for Fresh Verification

The ITAT (Income Tax Appellate Tribunal) restored an addition of ₹15.88 lakh to the assessee's income for fresh verification, noting that the reassessment was done without proper consideration of evidence. The tribunal found that the assessing officer (AO) had made the addition without adequately examining the evidence and explanations provided by the assessee during the reassessment proceedings. The ITAT emphasized the need for a thorough and judicious consideration of all relevant evidence before making any additions to income. By restoring the matter for fresh verification, the tribunal directed the AO to re-examine the evidence and provide a reasoned order based on a proper analysis, ensuring a fair assessment process.