ITAT Sets Aside NFAC Order for Non-Consideration of Material, Directs De Novo Adjudication

Mahadevan Vs ITO (ITAT Chennai) The case of Mahadevan Vs ITO (ITAT Chennai) pertains to an appeal against an order by the Commissioner of Income Tax (Appeals), National Faceless Appeal Center (NFAC), for the assessment year 2019-20. The appellant challenged the ex-parte order dated June 26, 2024, alleging that the NFAC failed to consider the written submissions provided during the proceedings. Specifically, the assessee contended that sufficient details had been submitted to substantiate the cash deposits made during the demonetization period as part of an organized business activity. However,...