First Day Excluded; One-Day Delay Not Considered Delay in Filing: ITAT Visakhapatnam

Advertisement Vaddadi Madhusudana Rao Vs ACIT (ITAT Visakhapatnam) In the case of Vaddadi Madhusudana Rao v. ACIT (ITAT Visakhapatnam), the Income Tax Appellate Tribunal (ITAT) reviewed the appeal filed by the assessee concerning the assessment for the assessment year 2020-21. The assessee, who had retired under a Voluntary Retirement Scheme from MMTC Ltd., had received substantial terminal benefits. He filed his return of income, claiming exemptions on gratuity, but the Assessing Officer (AO) made several additions, including Rs.4,21,198 towards gratuity, after completing the scrutiny asse...