ITAT Orders De Novo Consideration as CIT(A) Fails to Provide Reasons for dismissal of appeal

MD Yasin Construction Pvt Ltd Vs ACIT (ITAT Ranchi) In the case of MD Yasin Construction Pvt Ltd Vs ACIT (ITAT Ranchi), the Income Tax Appellate Tribunal (ITAT) remanded the matter back to the Commissioner of Income Tax (Appeals) (CIT(A)) due to a procedural lapse. The appeal contested the addition of ₹54,70,260 to the company’s income, which was estimated by the Assessing Officer (AO) at a 10% profit margin without rejecting the company’s books of account. The AO’s estimate was challenged on grounds that it was based on assumptions and lacked comparative support. The CIT(A...