ITAT Remands Property Sale Gain Addition as Purchase Cost Was Not Considered

Narender Rangineni Vs ITO (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, partly allowed the assessee’s appeal for statistical purposes by remanding two additions made for Assessment Year 2020-21 to the Assessing Officer (AO) for fresh adjudication. The assessee challenged the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), contending that the appellate authority failed to consider requests for additional time, did not adjudicate the jurisdictional issue relating to proceedings under Section 148A, wrongly sustained an addit...