CIT(A) Cannot Dismiss Appeal for Non-Prosecution Without Deciding on Merits: ITAT Raipur

V Y Institute of Medical Science Private Limited Vs ACIT (ITAT Raipur) The appeal before the Income Tax Appellate Tribunal (ITAT), Raipur concerned Assessment Year 2016–17 and was filed against the order dated 14.05.2024 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi under Section 250 of the Income Tax Act, 1961. The assessee, a hospital company, had filed its income tax return on 17.10.2017 declaring a loss of ₹45,38,01,828. During the relevant year, the assessee issued 2,58,303 shares at a face value of ₹10 each with a share premium of...