ITAT Remands Case with Penalty Due to Lack of Awareness of faceless proceedings

Syed Zubair Pasha Vs ITO (ITAT Hyderabad) Syed Zubair Pasha filed an appeal with the ITAT Hyderabad against an order from the CIT(A)-NFAC Delhi, concerning Assessment Year 2017-18. The case stemmed from reassessment proceedings initiated under Section 147 of the Income Tax Act, focusing on unexplained cash deposits and property purchases. The taxpayer, involved in stone trading, failed to file a return due to unawareness of the newly implemented faceless assessment proceedings under Section 148. Despite this, he submitted a computation of income, treating cash deposits as business receipts and...