CIT(A) Can Remand Best Judgment Reassessment Due to Assessee’s Non-Compliance: ITAT Delhi

ITO Vs Vijay Kumar Thakral (ITAT Delhi) The appeal before the ITAT Delhi arose from the Revenue’s challenge to the order of the CIT(A), NFAC, who had set aside a reassessment order and remanded the matter to the Assessing Officer (AO) for fresh adjudication. The dispute related to Assessment Year 2018-19. The assessee’s case was reopened under Section 147 of the Income-tax Act on the basis of information received through the CBDT’s Risk Management Strategy indicating that the assessee had allegedly taken accommodation entries amounting to Rs. 10,08,759 from M/s Shree Bankey B...