ITAT Remits Issue to AO: Assessing Loss Without Claim, Reassessment Needed

WLD Investments Pvt Ltd Vs DCIT (ITAT Delhi) AO assessed loss on certain amount despite the fact that no such loss has been claimed – ITAT remit the matter back to the AO for determining the issue afresh on the basis of relevant facts that may be placed by the assessee before the AO.  In a recent decision that has caught the attention of the financial and legal communities, the Income Tax Appellate Tribunal (ITAT) Delhi has set aside a previous order against WLD Investments Pvt Ltd by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, related to the...