ITAT Condoned Delay, Orders Fresh Adjudication in ₹47 Cr Tax Dispute & Penalty Case

Vishal Infraglobal Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) Ahmedabad addressed two appeals filed by Vishal Infraglobal Pvt.Ltd. against orders passed by the Commissioner of Income Tax (Appeals) [CIT(A)], National Faceless Appeal Centre (NFAC), Delhi, for the Assessment Year 2018-19. The first appeal challenged the ex-parte dismissal of the assessee’s appeal against an assessment order that determined a total income of ₹3,47,21,400. The second appeal contested the CIT(A)’s decision upholding the penalty of ₹56,38,318 levied under section 270A ...