ITAT restores hotel assessee’s reassessment case to AO for fresh review

Palmshore Hotels Pvt. Ltd. Vs ACIT (ITAT Cochin) The Income Tax Appellate Tribunal (ITAT), Cochin Bench, has granted partial relief to Palmshore Hotels Pvt. Ltd., directing the Assessing Officer (AO) to re-examine key aspects of its income assessment for the Assessment Year (AY) 2017-18. The decision came in response to an appeal filed by the assessee against an order from the National Faceless Appeal Centre (NFAC), Delhi, dated October 4, 2024. The case originated when Palmshore Hotels, engaged in the hotel business, did not file a regular return of income for AY 2017-18. However, the AO rece...