ITAT Delhi Restores Appeal in Case Selected for Scrutiny Due to 0.33% Net Profit

Medway Educational Consultant Private Limited Vs AO (ITAT Delhi) In the case of Medway Educational Consultant Private Limited Vs AO, the Income Tax Appellate Tribunal (ITAT), Delhi, restored the matter to the National Faceless Appeal Centre (NFAC) after observing that the appeal had been dismissed ex-parte without deciding the issues on merits. The assessee company had filed its return of income for Assessment Year 2020-21 on 22-01-2021 declaring income of Rs.6,83,670. The case was selected for scrutiny because the net profit disclosed in the return was only 0.33%. Notice under Section 143(2) ...