ITAT Condoned 524-Day Delay as Assessee Was Unaware of Assessment Order

Manish Hansraj Wadhwa Vs Assessment unit of Income tax Department (ITAT Mumbai) In this case, the assessee challenged an order of the National Faceless Appeal Centre (NFAC) relating to Assessment Year 2020-21. The assessee had originally declared a total income of ₹12,89,600 and carried forward a loss from house property of ₹17,41,996 arising from interest on borrowed capital. During assessment proceedings, the Assessing Officer restricted the carry-forward loss to ₹9,64,387 by disallowing 50% of the interest expenditure on the assumption that the property and loan were jointly held, des...