ITAT Sets Aside Assessment & Permits Fresh Hearing as Assessee claims to be mere Rent Collector 

Wavoo Real Estate Corporation Vs DCIT/ACIT (ITAT Chennai) Income Tax Appellate Tribunal (ITAT), Chennai bench, has set aside the orders of the Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre (CIT(A)/NFAC) and remanded the tax appeals of Wavoo Real Estate Corporation back to the Assessing Officer (AO) for fresh adjudication. The decision, pronounced on June 25, 2025, covers Assessment Years 2013-14, 2014-15, and 2016-17, and highlights the Tribunal’s emphasis on ensuring a fair opportunity for taxpayers and proper verification of facts by the tax authorities. The re...