ITAT Restores Assessment Due to Non-Consideration of Submitted Evidence

Manarkattu Theatres Pvt Vs ITO (ITAT Cochin) Income Tax Appellate Tribunal (ITAT), Cochin bench, has set aside the order of the National Faceless Appeal Centre (NFAC)/Commissioner of Income Tax (Appeals) [CIT(A)] in the case of Manarkattu Theatres Pvt. Ltd. for the Assessment Year 2018-19. The Tribunal has directed the Assessing Officer (AO) to re-adjudicate the matter, emphasizing that the lower authorities failed to consider the detailed submissions and evidence provided by the assessee during both assessment and appellate proceedings. The assessee, Manarkattu Theatres Pvt. Ltd., a company o...