ITAT Condones 700-Day Appeal Delay as Notices Were Allegedly Sent to Wrong Address

Nangan Motors Private Limited Vs DCIT (ITAT Chennai) In this case, the assessee company, engaged in the business of running a car service centre, did not file its return of income for Assessment Year 2018-19 despite having substantial financial transactions, including cash deposits and contract receipts totaling ₹1,30,70,358. The Assessing Officer (AO) issued notices regarding the cash deposits, but no response was received from the assessee. Consequently, the AO computed a penalty under Section 270A at 50% of the tax on the under-reported income and levied a penalty of ₹45,793. A separate...